U.S. Producer Prices Climb More Than Expected In April
(RTTNews) - Producer prices in the U.S. increased by more than expected in the month of April, according to a report released by the Labor Department on Tuesday.
The Labor Department said its producer price index for final demand climbed by 0.5 percent in April after a revised 0.1 percent dip in March.
Economists had expected producer prices to rise by 0.3 percent compared to the 0.2 percent uptick originally reported for the previous month.
The report also said the annual rate of producer price growth accelerated to 2.2 percent in April from a downwardly revised 1.8 percent in March.
Economists had expected the year-over-year producer price growth to inch up to 2.2 percent from the 2.1 percent originally reported for the previous month.
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