US Producer Prices Rise Slowly in April

U.S. producer prices barely rose in April after strong gains in the first quarter, held down by a moderation in the cost of both goods and services, which could ease fears that inflation pressures were rapidly building up.

The Labor Department said on Wednesday its producer price index for final demand edged up 0.1 percent last month after increasing 0.3 percent in March.

That lowered the year-on-year increase in the PPI to 2.6 percent from 3.0 percent in March.

Economists polled by Reuters had forecast the PPI gaining 0.2 percent last month and rising 2.8 percent from a year ago.

via Reuters