WASHINGTON (Reuters) -U.S. producer prices increased more than expected in April amid strong gains in the costs of services like portfolio management and hotel accommodation, indicating that inflation remained stubbornly high early in the second quarter. The report from the Labor Department on Tuesday also showed wholesale goods prices rising solidly last month, though the cost of food declined. The producer price index for final demand rose 0.5% last month after falling by a downwardly revised 0.1% in March, the Labor Department's Bureau of Labor Statistics said on Tuesday.
Reuters