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US wholesale inventories increased 0.6% month-over-month to $940.3 billion in April 2026, following an upwardly revised 1.5% rise in March and slightly topping expectations for a 0.5% gain. This was the third consecutive monthly increase in wholesale stockpiles, though the pace eased from March’s advance, which had been the strongest since August 2022. On an annual basis, total inventories were 3.6% higher than in April 2025. The March monthly gain was revised up from an initial estimate of 0.5% to 0.6%. Meanwhile, the inventory-to-sales ratio for merchant wholesalers held steady at 1.19 in April, unchanged from the prior month.
