The Producer Price Index for final demand increased 0.2% month-over-month in April (consensus +0.3%) following an upwardly revised 0.4% decline (from -0.5%) in March. The index for final demand, excluding food and energy, increased 0.2% month-over-month in April (consensus +0.3%) following an upwardly revised unchanged reading (from -0.1%) in March.\
The key takeaway from the report is that producer inflation continued to moderate. On a year-over-year basis, total PPI was up 2.3% versus up 2.7% in March. Excluding food and energy, PPI was up 3.2% versus 3.4% in March.