U.S. April producer prices rise 2.3% over past year, smallest increase since January 2021

The numbers: U.S. producer prices rose 0.2% in April, the Labor Department said Thursday.

Economists polled by the Wall Street Journal had forecast the PPI would rise 0.3%.

In the 12 months through April, the PPI increased 2.3%. It follows a 2.7% gain in March. This is the lowest rate since January 2021.

Key…