Wholesale prices top forecasts
April PPI shows overall price increases slowing from March, but core PPI picks up speed.
May 17, 2005: 8:35 AM EDT
NEW YORK (CNN/Money) - Wholesale prices rose at a faster pace than expected in April, even as the pace of energy price hikes slowed from the previous month, the government reported Tuesday.
The Producer Price Index, which measures prices that businesses charge one another for goods and services, was up 0.6 percent in April, compared with a 0.7 percent rise in March, when rising energy costs sparked higher prices. Economists surveyed by Briefing.com had forecast a rise of 0.4 percent.
The so called core-PPI, which strips out the often volatile food and energy prices, rose 0.3 percent, compared with a 0.1 percent rise in March. Economists had forecast a 0.2 percent rise in April, according to Briefing.com