(Bloomberg) -- New York state factory activity contracted in April for a fifth straight month, while a measure of prices paid for materials climbed to the highest level in nearly a year.

The Federal Reserve Bank of New York’s general business conditions index increased 6.6 points to minus 14.3, data showed Monday. Readings below zero indicates contraction, and the measure was weaker than all estimates in a Bloomberg survey of economists.

The data have been subject to wide swings on a monthly basis for more than two years. The stretch of contracting activity is the longest since the start of 2016.

An index of current prices paid for materials increased 5 points to 33.7, the highest since May 2023, while a gauge of prices received by manufacturers in the state remained elevated. A measure of the outlook for input prices climbed to a more than one-year high.

The price figures follow Institute for Supply Management data earlier this month showing a similar pickup in March. If sustained, that would raise concerns that goods disinflation could stall or even reverse after weighing on overall inflation for months.

The gain in prices paid likely reflects higher energy prices, though it’s possible that demand and supply chains are also playing a role.

The indexes of current new orders, shipments and employment continued to show contraction. Meanwhile, the six-month outlook for overall activity in New York dropped almost 5 points to 16.7, the lowest this year.

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