Silver

April

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<p class="has-drop-cap">According to the latest report from the Bureau of Labor Statistics, the <a href="https://www.bls.gov/news.release/ppi.nr0.htm" target="_blank" aria-label="Producer Price Index (PPI) (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">Producer Price Index (PPI)</a> for final demand increased by 0.5% in April 2024, following a 0.1% decline in March and a 0.6% rise in February. <br><br>On an unadjusted basis, the PPI for final demand saw a 2.2% increase for the 12 months that ended in April 2024, marking the largest annual increase since April 2023, which recorded a 2.3% rise.<br><br>The core PPI, which excludes foods, energy, and trade services, rose 0.4% in April, following a 0.2% increase in March. For the year ended in April, this index increased by 3.1%.</p> 
<h3 id="prices-for-final-demand-services-and-goods-up-0-6-in-april">Prices for Final Demand Services and Goods Up 0.6% in April</h3> 
<p>Prices for final demand services increased by 0.6% in April, the largest rise since July 2023. This was primarily driven by a 0.6% increase in prices for final demand services less trade, transportation, and warehousing. <br><br>Margins for final demand trade services rose 0.8%, while prices for final demand transportation and warehousing services decreased by 0.6%. A significant contributor to the rise in final demand services was a 3.9% increase in portfolio management prices. Other notable increases were observed in machinery and equipment wholesaling, residential real estate services, automobile retailing, guestroom rental, and truck transportation of freight.<br><br>Prices for final demand goods rose 0.4% in April, driven by a 2.0% increase in the index for final demand energy. Prices for final demand goods less foods and energy increased by 0.3%, while the index for final demand foods declined by 0.7%. <br><br>The increase in final demand goods was primarily due to a 5.4% rise in gasoline prices. Other significant increases included diesel fuel, chicken eggs, electric power, nonferrous metals, and canned poultry. Conversely, prices for fresh and dry vegetables fell by 18.7%.<br><br>Prices for processed goods for intermediate demand rose 0.6% in April, with a 1.6% increase in processed energy goods. Unprocessed goods for intermediate demand saw a 3.2% rise, the largest since August 2022, driven by an 8.2% increase in unprocessed energy materials.</p> 
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<h3 id="stock-indexes-mixed-commodities-and-currencies-fluctuate">Stock Indexes Mixed, Commodities and Currencies Fluctuate</h3> 
<p>At the time of writing, US stock indices showed mixed results, with the Dow Jones Industrial Average (DJIA) down 3.32 points (-0.01%) at 39,428.19, while the NASDAQ gained 44.67 points (+0.27%) to 16,432.91. <br><br>The <a href="https://tokenist.com/investing/spx-vs-spy/" rel="dofollow" class="deco-link">S&amp;P 500</a> edged up 1.91 points (+0.04%) to 5,223.33, and the NASDAQ 100 rose 27.02 points (+0.15%) to 18,225.63. The S&amp;P 400 (MidCap) and Russell 2000 (<a href="https://tokenist.com/investing/small-cap-stocks/" class="deco-link">SmallCap</a>) indexes saw more significant gains, up 23.33 points (+0.78%) and 21.24 points (+1.03%), respectively.<br><br>Commodities experienced varying fluctuation levels, with gold rising $13.8 (+0.59%) to $2,356.8 and oil falling $0.99 (-1.25%) to $78.13. Silver and copper saw gains, up $0.282 (+0.99%) and $0.227 (+4.75%), respectively. Agricultural commodities such as wheat, soybeans, and corn experienced declines.<br><br>In the Treasury market, yields remained relatively stable, with minor changes observed across various maturities. The US Dollar Index (DXY) fell 0.19 points (-0.18%) to 105.03, while the EUR/USD and GBP/USD pairs saw modest gains. The USD/JPY pair rose 0.29 points (+0.19%) to 156.49. The volatility index, VIX, experienced a slight decline of 0.03 points (-0.22%) to close at 13.57.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><strong><em>Do you think inflation will continue to persist through 2024? Let us know in the comments below.</em></strong></p> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/producer-price-index-rises-in-april-marking-largest-annual-increase-since-2023/">Producer Price Index Rises in April, Marking Largest Annual Increase Since 2023</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Producer Price Index Rises in April, Marking Largest Annual Increase Since 2023

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