The producer Price Index (PPI) for final demand in the United States grew 0.5% in April compared to the previous month, according to a report by the US Bureau of Labor Statistics on Tuesday. The reading came in above market estimates.
The index moved up 2.2% for the 12 months ended in April.
The prices for final demand services and goods rose by 0.6% and 0.4% respectively. The index for final demand less foods, energy, and trade services was up by 0.4% in April month-on-month, while it recorded the highest 12-month increase since the corresponding month a year before of 3.1%.
