MW: Producer prices rise 0.3% in April on food prices
Wholesale prices rose 0.3% in April after seasonable adjustments, with higher food prices offsetting a drop in energy prices, the Labor Department reported Thursday. The producer price index has fallen 3.7% in the past year, the biggest year-over-year fall since January 1950, the government said. The core PPI - which excludes food and energy prices - rose 0.1% in April. Core prices are up 3.4% in the past year. The PPI had fallen 1.2% in March. The rise in the headline PPI and the core rate were in line with expectations.
