Labor Department reported on Thursday the U.S. producer-price index (PPI) rose 0.6
percent m-o-m in April, following an unrevised 1.0 percent m-o-m increase in March.
For the 12 months through April, the PPI climbed 6.2 percent after an unrevised 4.2percent surge in the previous month. That was the largest increase since 12-month data were first calculated in November 2010.
Economists had forecast the headline PPI would increase 0.3 percent m-o-m last month and 5.9 percent over the past 12 months.
According to the report, about two-thirds of the April advance in the final demand index can be traced to a 0.6-percent m-o-m gain in prices for final demand services. The index for final demand goods also rose 0.6 percent m-o-m.
Excluding volatile prices for food and energy, the PPI went up 0.7 percent m-o-m and jumped 4.1 percent over 12 months (the largest advance since 12-month data were first calculated in August 2014). Economists had forecast gains of 0.4 percent m-o-m and 3.7 percent y-o-y.
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