Producer Prices Rise 0.9%

Washington, DC, May 16, 2006–Producer prices rose 0.9% in April, led by higher energy costs, but prices outside of energy were well contained, according to Labor Department data released Tuesday.

Energy prices increased 4% in the month, led by a 12.3% rise in gasoline prices.

The core producer price index for finished goods–which excludes food and energy prices–rose 0.1% for the second month in a row.

Economists were expecting the PPI to rise 0.8% and the core to rise 0.2%.

Prices of intermediate goods rose 0.9%, including a 2.8% rise in energy goods prices. The core intermediate goods PPI rose 0.4%.

Prices of crude goods rose 1.2%, as energy prices rose 1.3%.