USA: Rise in line with expectations for producer prices in April | Photo credits: Ana Paula Hirama / Creative Commons
WASHINGTON, May 12 (Reuters) – U.S. producer prices rose in April in line with expectations, official statistics showed on Thursday.
The producer price index (PPI) rose 0.5% month-on-month after gaining 1.6% (revised) in March, the Labor Department said. Over one year, its increase was 11.0%, after +11.5% (revised) the previous month.
Economists polled by Reuters on average forecast a rise of 0.5% month-on-month and 10.7% year-on-year.
Excluding energy, food and market services, producer prices increased by 0.6% in April after 0.9% in March, while their annual increase was 6.9% against 7.1 % (revised) in March.
Table: nW1N2X4001 (Report Lucia Mutikani; French version Claude Chendjou, edited by Sophie Louet)