May 14, 2009

Producer prices rise slightly

The Producer Price Index for finished goods in the United States rose slightly in April, the Bureau of Labor Statistics reported Thursday.

The PPI rose 0.3 percent during the month in spite of a decline in energy costs, which fell 0.1 percent in the month after falling 5.5 percent in March.

Food prices for producers rose 1.5 percent in April following a fall of 0.7 percent in March.

April included a 43.7 percent price hike for eggs and rising prices for milk, beef, pork, poultry and vegetables, excluding potatoes.

Among durable items, prices rose for light trucks, pharmaceuticals and consumer plastics. Prices fell for civilian aircraft, tobacco products and computers.

The core figure, which excludes food and energy, rose 0.1 percent in April, the report said.

Over the past 12 months, the finished goods price index has fallen 3.7 percent, the bureau said.