Wholesale Prices in the U.S. See Moderate Rise in April
- May 20, 2008
Washington, D.C.–U.S. wholesale prices rose only slightly last month due to reduced food and energy costs–but the core rate of inflation increased at twice the rate analysts expected, The Wall Street Journal reports.Following a 1.1 percent increase in March, the producer price index for finished goods grew 0.2 percent on a seasonally adjusted basis, the Labor Department said Tuesday.Producer prices have risen 6.5 percent on an unadjusted basis in the 12 months ending in April, the Journal said.Energy prices in the wholesale sector fell 0.2 percent in April after a 2.9 percent rise in March; gas dropped 4.6 percent, but residential natural gas increased 5.4 percent.Food prices remained steady in April after a 1.2 percent increase in March. Commercial furniture costs increased 1.8 percent.