Producer prices—the cost of goods and services paid by businesses—fell in May, suggesting that inflationary pressures might be easing and that the Federal Reserve’s fight to restore price stability has garnered momentum.
The producer price index (PPI) declined 0.2 percent last month from 0.5 percent in April and compared to the consensus estimate of 0.1 percent, according to the Bureau of Labor Statistics. The slowdown follows three straight months of accelerating PPI inflation.
