Energy Costs Lift U.S. Producer Prices, Core Tame

(Reuters) – A big rise in energy costs pushed U.S. producer prices up a sharp 0.9 percent last month, but prices outside the volatile food and energy areas rose a slimmer-than-expected 0.1 percent, a government report showed on Tuesday.

The April gain in the overall producer price index, a gauge of prices received by farms, factories and refineries, was the largest since September, the Labor Department said.

It reflected a steep 4 percent rise in energy prices, the biggest rise since October and one that underscored the price pressures stemming from lofty oil prices.
Reuters