Core producer prices rise 0.3 percent in April

Reuters

WASHINGTON (Reuters) - U.S. core producer prices rose 0.3 percent in April for the second consecutive month, while the increase from a year ago was the largest since August 2009, the Labor Department said on Thursday.

Economists surveyed by Reuters had expected a rise of 0.2 percent in the core producer price index, which excludes volatile food and energy components from prices paid at the farm and factory gate.

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In the 12 months to April, the core producer price index rose 2.1 percent, the biggest increase since August 2009.

Overall producer prices rose 0.8 percent in April, after a 0.7 percent rise in March, the department said. Economists had expected a 0.6 percent rise.

The 6.8 percent rise in producer prices over the past year was the most since September 2008, the department said.

(Reporting by Doug Palmer; Editing by Theodore d'Afflisio)

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