Shutterstock photo
Markets

U.S. PPI rises 0.6% in April, core PPI up 0.5%

Shutterstock photo

Shutterstock photo

Investing.com -

Investing.com - Producer price inflation in the U.S. rose more than expected in April, while core prices also topped forecasts, official data showed on Wednesday.

In a report, the Commerce Department said that producer prices increased by a seasonally adjusted 0.6% last month, above forecasts for a 0.2% gain, after rising 0.5% in March.

Year-over-year, the producer price index rose at an annualized rate of 2.1% in April, above expectations for a 1.7% increase and up from 1.4% in the preceding month.

The core producer price index advanced 0.5% last month, compared to expectations for a 0.2% increase, after rising 0.6% in March.

Core produces prices rose at an annualized rate of 1.9% in April, beating forecasts for a 1.4% gain and after climbing 1.4% in the preceding month.

Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.

Following the release of the data, the U.S. dollar held to losses against the euro, with EUR/USD rising 0.1% to trade at 1.3715.

Meanwhile, the outlook for U.S. equity markets was mildly lower. The Dow pointed to a drop of 0.15% at the open, the S&P 500 indicated a loss of 0.15%, while the Nasdaq 100 signaled a decline of 0.25%.

Investing.com offers an extensive set of professional tools for the financial markets.

Read more News on Investing.com and download the new Investing.com Stocks & Forex App for Android!

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx