Economics
U.S. Producer Prices Top Forecasts, Adding to Inflation Pressure
- April PPI jumps 0.6% as costs of goods and services advance
- Labor Department data follow sharp increase in consumer prices
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Prices paid to U.S. producers rose in April by more than forecast, adding to signs of a growing wave of inflationary pressure that’s extending to American consumers.
The producer price index for final demand increased 0.6% from the prior month after a 1% gain in March, according to data from the Labor Department Thursday. Excluding volatile food and energy components, the so-called core PPI advanced 0.7%.