MW: U.S. productivity climbs 1.6% in first quarter
By Jeffry Bartash
WASHINGTON (MarketWatch) - U.S. wholesale prices rose a seasonally adjusted 0.8% in April, once again driven by surging fuel costs, the government reported Thursday. Wholesale prices have jumped an unadjusted 6.8% in the past year, the largest 12-month increase since September 2008. The more closely followed core producer index rose 0.3 in April. The core index is usually viewed by investors and the Federal Reserve as a better gauge of inflationary pressure because it excludes the volatile food and energy categories. Economists surveyed by MarketWatch had predicted a 0.8% increase in overall producer prices and a 0.2% increase in the core rate. Wholesale energy prices climbed 2.5% in April while wholesale food prices rose 0.3%.
