U.S. wholesale inflation slows in April, but prices still up 11% in the past year

U.S. wholesale inflation slows in April, but price pressures still intense

The numbers: The cost of wholesale goods and services rose milder 0.5% in April vs the prior month, but intense inflationary pressures in the guts of the economy showed little sign of relenting.In March, wholesale prices had jumped 1.6% largely because of a surge in... The numbers: The cost of wholesale goods and services rose milder 0.5% in April vs the prior month, but intense inflationary pressures in the guts of the economy showed little sign of relenting.

Trends in wholesale prices offer clues on the path of inflation — what consumers end up paying for what they buy. Yet inflation is still running at the highest rate in 40 years and the wholesale report didn’t show much sign that price pressures will ease considerably in the near future. Big picture: High inflation has become a big worry for consumers, businesses and investors. It’s also causing a political crisis in Washington.

Key details: The wholesale cost of goods jumped 1.3% last month, reflecting increases in autos, chicken, eggs electricity and natural gas.

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