The latest update on wholesale price inflation was messy amid impacts on trade, but the headline producer price index cooled in line with expectations in April.

The headline producer price index fell to a 2.4% annual rate, which was in line with the consensus among economists, according to FactSet.

The PPI fell at a 0.5% monthly rate in April, while the March figure was revised from a decline of 0.4% to unchanged. Economists polled by FactSet expected a 0.4% monthly decline in March to be followed by a 0.2% monthly uptick in April.