CONSUMERS GOT A BRIEF RESPITE FROM RISING INFLATION LAST MONTH BUT…: Wholesale prices rose 0.5% in April, more than expected. “Stripping out volatile food and energy prices, the core PPI also rose 0.5% compared with the 0.2% Dow Jones estimate. Excluding trade services from that core group showed a 0.4% increase on the month and 3.1% on a 12-month basis, the highest level since April 2023.”

PPI is a leading indicator for consumer inflation.