RTTNews - Producer prices increased by a little more than expected in the month of April, according to a report released by the Labor Department on Thursday, with the increase in prices partly due to a rebound in food prices.
The report showed that the producer price index rose 0.3 percent in April following an unrevised 1.2 percent decrease in March. Economists had been expecting a slightly more modest increase in prices of about 0.2 percent.
At the same time, the Labor Department said that the core producer price index, which excludes food and energy prices, edged up 0.1 percent in April after coming in unchanged in the previous month. The modest increase came in line with economist estimates.
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