Wholesale prices fell off a cliff in April amid trade war

Wholesale prices took their largest month-to-month dive in April since the height of the coronavirus pandemic amid Trump’s ongoing trade war.

The producer price index (PPI), a measure of wholesale inflation, declined 0.5 percent from March to April, the largest monthly drop since April 2020 immediately following the onset of the pandemic when the global economy started a series of shutdowns.

On an annual basis, the PPI rose in April by 2.4 percent, the lowest level since September of last year...