Wednesday, May 14, 2014

Producer Prices Jumped 0.6% in April

Producer prices accelerated in April, gaining 0.6% from the month prior. Similar to March, April’s gains were led by wholesale and retail improvements. The goods categories also contributed to April’s growth. The year-over-year change was 2.1%, the largest annual growth since March 2012.

Producer prices for finished goods rose 0.6%, the same growth seen for finished services. Crude products rose 0.4% in April, coming off a previous month of decline. Notably, year-over-year growth for crude products was 6.5%. Intermediate goods was mainly strong, aside from energy which was a 1.2% decline in April, the same magnitude decline from March as well. However, energy prices were higher than usual and distorted due to the winter weather, which caused a sharp decline in the spring and should normalize next month.

Read the BLS report.

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