Updated:
5/12/2011 10:10:00 AM
Prices paid to U.S. producers rose 0.8% in April, the Labor Department said Thursday.
The April increase of prices paid to factories, farmers and other producers follows increases of 0.7% in March and 1.6% in February.
This compares with the 0.6% median estimate of economists, Bloomberg reported.
The April increase of prices paid to factories, farmers and other producers follows increases of 0.7% in March and 1.6% in February.
The so-called core producer price index excluding food and energy climbed 0.3%.
Food prices increased 0.3% while fuel costs jumped 2.5%, led by a 3.6% surge in gasoline prices.
Companies were charged 0.6% more for light trucks while prices for automobiles were up 0.5%.
An increase in the PPI could indicate strong demand for goods, which would mean more shipments for trucking companies. However, if inflation begins to accelerate too quickly, it could also hurt the economy.
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