Headline: 0.8% month-over-month riseExpectations: 0.6% month-over-month rise
Analysis: Last month, PPI grew by 0.7%, and a weaker 0.3% excluding food and energy.
Core came in a little hotter than expected, rising by 0.3% rather than the expected 0.2%.
The rise in prices, however, continues to be about largely about energy costs.
From the PPI Release:
About three quarters of the April advance in the finished goods index can be traced to a 2.5-per cent jump in prices for finished energy goods. Also contributing to the rise in the finished goods index, prices for both finished goods other than foods and energy and for finished consumer foods moved up 0.3 per cent in April.
Finished energy: Prices for finished energy goods increased 2.5 per cent in April, the seventh consecutive monthly advance. Over half of the April rise can be attributed to the gasoline index, which climbed 3.6 per cent. Higher prices for liquefied petroleum gas and residential natural gas also were factors in the increase in the finished energy goods index.