The
Labor Department reported on Thursday the U.S. producer-price index (PPI) rose
0.2 percent m-o-m in April after an unrevised 0.6 m-o-m increase in March.
For
the 12 months through April, the PPI rose 2.2 percent, the same pace as in the
prior month.
Economists
had forecast the headline PPI would increase 0.2 percent m-o-m last month and 2.3
percent over the past 12 months.
According
to the report, the April rise in the index for final demand was led by prices
for final demand goods, which climbed 0.3 percent m-o-m. Meanwhile, the index
for final demand services edged up 0.1 percent m-o-m, and prices for final
demand construction rose 1.6 percent m-o-m.
Excluding
volatile prices for food and energy, the PPI increased 0.1 percent m-o-m and
rose 2.4 percent over 12 months. Economists had forecast gains of 0.2 percent
m-o-m and 2.5 percent y-o-y, respectively.
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