Factory output dropped 0.4% last month after an upwardly revised 0.4% gain in March, the Federal Reserve said on Thursday. Economists polled by Reuters had forecast production would slip 0.2% after a previously reported 0.

Inflation is getting closer to the Federal Reserve's 2% target.

Israel's annual inflation rate rose unexpectedly in April to 3.6%, according to data on Thursday from the Central Bureau of Statistics that will likely keep policymakers from reducing interest rates soon.

Inflation was relatively mild in April, but economists said tariffs will end a recent lull and push up more prices in the coming months. The consumer-price index rose a seasonally adjusted 0.2% in April,

The Producer Price Index, a closely watched measurement of wholesale inflation, showed Thursday that the prices paid to US producers dropped 0.5% in April from the month before, a much softer reading than economists expected, while inflation slowed on an annual basis to 2.4%, from 2.9% in March, according to Bureau of Labor Statistics data.

Tuesday's report could provide an early read on how Trump's duties will affect the prices Americans pay for necessities and other goods such as clothing, shoes, furniture and even groceries.

The Consumer Price Index jumped 2.3% in April from the year before, below March’s 2.4% increase, the Bureau of Labor Statistics said Tuesday.

The CPI report was cooler than expected, although inflation is still higher than the Federal Reserve's 2% annual goal.

Inflation rose less than expected in April, as prices rose 2.3% over the year, down from 2.4% in March. Prices for gas and groceries fell, but housing and eating at restaurants got more expensive. Inflation was slightly milder than forecasters had expected, before consumers faced the full brunt of President Donald Trump's import taxes.

U.S. retail sales slowed in April, with tariffs pressuring margins despite resilient spending and soft PPI data. See why trade risks matter markets.

Employers across the U.S. added 177,000 jobs in April, a sign the labor market remains healthy despite concerns rising U.S. tariffs.