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US producer prices rose far more than expected in April, according to data released Wednesday by the Bureau of Labor Statistics.
Prices rose 1.4% in April over the previous month, far above March’s revised gain of 0.7% and economists’ expectations for an increase of 0.5% on the month. On an annual basis, headline prices rose by 6% in April, above estimates of 4.8% and the previous month’s 4.3% year-over-year increase.
Excluding the more volatile food and energy costs, “core” producer prices advanced by 1% over the previous month, more than double the 0.3% growth economists had predicted and well above the previous month's revised gain of 0.2%. Core prices rose 5.2% year over year, hotter than estimates of 4.3% and the previous month’s 4% revised gain.
The numbers come after consumer prices also increased more than expected in April. The Consumer Price Index published by the BLS on Monday showed prices were 3.8% higher than a year ago — the largest annual increase in three years — and up 0.6% on a monthly basis, largely due to soaring energy costs.
finance.yahoo.com
This is different from the US inflation rising by 3.8% in the other thread.
Prices rose 1.4% in April over the previous month, far above March’s revised gain of 0.7% and economists’ expectations for an increase of 0.5% on the month. On an annual basis, headline prices rose by 6% in April, above estimates of 4.8% and the previous month’s 4.3% year-over-year increase.
Excluding the more volatile food and energy costs, “core” producer prices advanced by 1% over the previous month, more than double the 0.3% growth economists had predicted and well above the previous month's revised gain of 0.2%. Core prices rose 5.2% year over year, hotter than estimates of 4.3% and the previous month’s 4% revised gain.
The numbers come after consumer prices also increased more than expected in April. The Consumer Price Index published by the BLS on Monday showed prices were 3.8% higher than a year ago — the largest annual increase in three years — and up 0.6% on a monthly basis, largely due to soaring energy costs.
US wholesale prices rose 6% in April in another sign of sticky inflation
US producer prices rose more than expected in April, adding to concerns around sticky inflation.
finance.yahoo.com
This is different from the US inflation rising by 3.8% in the other thread.
