The Producer Price Index fell unexpectedly last month, defying economists’ expectations that President Donald Trump’s tariff policy would increase costs.
The PPI is a measure of the average change in prices for U.S. producers of goods and services, according to the Bureau of Labor Statistics.
The Wall Street Journal reported Thursday that, based on a poll of economists it conducted, they expected the overall index to rise by 0.3 percent in April.
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But prices dropped by a seasonally adjusted 0.5 percent during the month instead.
That change marked “the largest decline since the index began in December 2009. Over two-thirds of the broad-based decrease can be traced to margins for final demand trade services, which dropped 1.6 percent,” the BLS said.
In the previous 12 months
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