U.S. inflation remains stubbornly low.
In April, U.S. producer prices resumed their downward trend. The monthly gauge has slid in five of the past six months.
Read this excerpt from a May 14 Reuters article:
The Labor Department said on Thursday its producer price index for final demand fell 0.4 percent last month, declining for the third time this year. The PPI increased 0.2 percent in March.
In the 12 months through April, producer prices fell 1.3 percent, the biggest year-on-year decline since 2010, after declining 0.8 percent in March.
Economists had forecast the PPI rising 0.2 percent last month and falling 0.8 percent from a year ago.
A drop of 0.7 percent in the index for final demand goods accounted for more than 70 percent of the decline in the PPI last month. Energy prices fell 2.9 percent after rising 1.5 percent in March. Food prices fell for a fifth straight month.
The dollar, which has gained about 11 percent against the currencies of the United States' main trading partners since June, and lower energy prices are keeping inflation subdued.
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