The Producer Price Index, a closely watched measurement of wholesale inflation, showed Thursday that the prices paid to US producers dropped 0.5% in April from the month before, a much softer reading than economists expected, while inflation slowed on an annual basis to 2.4%, from 2.9% in March, according to Bureau of Labor Statistics data.

Wholesale prices took their largest month-to-month dive in April since the height of the coronavirus pandemic amid Trump’s ongoing trade war. The producer price index (PPI), a measure of wholesale

The April index for bread was 241, up 1.6% from March and up 1.9% from a year ago. Under this heading, the CPI for white bread was 435.2, up 1.5% from March and up 1.6% from April 2024. For bread other than white, the index was 470, up 1.7% from March and up 1.9% from a year ago.

Inflation retreated again in April on the back of lower prices for consumer staples like groceries and gasoline, and other items such as used cars and clothing. The consumer price index, a key inflation gauge, rose 2.3% in April from 12 months earlier, down from 2.4% in March, the Bureau of Labor Statistics reported Tuesday.

Shelter costs, the consumer price index’s measure of how much people pay for housing, were up again last month. The sector, a persistently inflationary category, is proving a headache for economists and Fed officials looking to rein in price growth.