Producer Prices in the US Rise More Than Expected

In April 2024, producer prices in the US increased by 0.5% month-over-month, following a downwardly revised 0.1% drop in March, significantly exceeding the forecast of 0.3%. Prices for final demand goods rose by 0.4%, driven by a 5.4% increase in gasoline prices. The cost of services increased by 0.6%, with the portfolio management index rising by 3.9%.