US: Annual Producer Price Index stays unchanged at 2.2% in April

The data published by the U.S. Bureau of Labor Statistics revealed that the Producer Price Index (PPI) in April stayed unchanged at 2.2% on a yearly basis and fell short of the market consensus of 2.3%. On a monthly basis, the PPI dropped to 0.2% from 0.6%. The core PPI, which excludes volatile food and energy prices, came in at 2.4% and 0.1% on a yearly and monthly basis, respectively.