Global Sheltering Clamps Down Prices
This morning, the Producer Price Index (PPI) for April fell -1.3%, the biggest monthly decline on record. Much of the overall drop can be attributed to a -19% decrease in energy prices. Core PPI (which excludes food and energy) fell -0.3% in April. Annual growth in headline producer prices slowed sharply from +0.7% in March to -1.2% in April, while annual growth in core prices slipped from +1.4% to +0.6%.