Wholesale inflation unexpectedly fell in April, experiencing its largest monthly decline in five years. The producer price index for final demand was down 0.5% m

Prices for final demand less foods, energy, and trade services edged down 0.1% in April, the first decline since falling 0.8% in April 2020. For the 12 months ended April 2025, the index for final demand less foods, energy, and trade services advanced 2.9%.

US wholesale prices fell the most in five years in April, with a historic drop in gauges measuring profit margins suggesting businesses have so far refrained from passing along the cost of higher tariffs.