Inflation May Have Peaked in April — Producer Price Index Provides Glimmer of Hope for Your WalletPeopleimages / iStock.comAmericans looking for relief from high inflation could see a tiny glimmer of hope this week if they squinted their eyes really hard, as a pair of reports showed that inflation in April eased slightly from the previous month. Excluding volatile food, energy and trade services prices, the PPI in April rose a more palatable 6.9% year-over-year. The slight deceleration in both producer and consumer inflation provided a glimmer of hope that inflation might have peaked, even though it’s still the highest it has been in more than 40 years. “The April PPI report didn’t make things worse… so that is a good thing,” BMO Capital Markets’ senior economist Jennifer Lee told CNN. That represented a significant slowdown from a month earlier, when prices rose by 1.6%.

Source: CNN May 13, 2022 18:35 UTC