Geoffrey Smith 

Investing.com — U.S. producer price inflation showed signs of peaking in April but remained in double digits, as the surge in energy prices weakened a little in the wake of Russia’s invasion of Ukraine. 

Inflation at factory gates fell to 11.0% (11.5% previously). Meanwhile, prices rose by 0.5% to 1.6% March. According to consensus predictions, the monthly rise was consistent with expectations.

However, there was also evidence of decreasing price trends in core PPI. This excludes volatile foods and energy prices. The month’s inflation rose 0.4%, which is less than 0.6% predicted and clearly a slowdown after March’s upwardly revised 1.2%.

These figures are released a day after data revealed that consumer inflation has fallen to its lowest point in 40 years, last month. However, there have been pockets of continued high price pressure.

The Labor Department reported separately that the number of claims for unemployment benefits topped 200k last week. Initial claims stood at 203,000. That is effectively the same as the 202,000 that was upwardly revised last week.