The producer price index for final demand rose 0.5% last month after falling by a downwardly revised 0.1% in March
U.S. producer prices increased more than expected in April amid strong gains in the costs of services and goods, indicating that inflation remained elevated early in the second quarter.
Economists polled by Reuters had forecast the PPI gaining 0.3 per cent after a previously reported 0.2 per cent rise in March. In the 12 months through April, the PPI increased 2.2 per cent after climbing 1.8 per cent in March.
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