US wholesale prices increased less than expected in April, providing optimism that inflation pressures are easing. According to a report by the Labor Department, the producer price index (PPI) rose by 0.2%, compared to the Dow Jones estimate of 0.3%, and down from a decline of 0.4% in March. The services index rose by 0.3%, the biggest increase since November 2022. On an annual basis, the headline PPI increased by just 2.3%, the lowest reading since January 2021.
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