Producer prices were expected to increase 0.5% in April, according to economists surveyed by Dow Jones.
Prices at the wholesale level accelerated further in April, part of a broader inflation problem persisting through the U.S. economy, the Bureau of Labor Statistics reported Thursday.
The producer price index, which tracks how much manufacturers get for their products at their initial sale, rose 0.5% on the month and 11% from a year ago, a decrease from the record 11.5% in March. Economists surveyed by Dow Jones had been looking for a monthly increase of 0.5%. Excluding food, energy and trade services, core PPI rose 0.6% in April and 6.9% from a year ago, the latter a decline from the 7.1% last month.
Both monthly increases were exactly in line with Dow Jones estimates. Headline PPI rose 1.6% in March while core was up 0.9%. Stay informed during the severe weather season with our local news and weather app. Get the NBC 5 Chicago app for
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