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| April Producer Price Data (#1) - May. 17, 2005 |
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Summary
Earlier this morning, the Labor Department reported that producer prices rose 0.6% during April, materially faster than the consensus estimate.
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In today's release on April producer prices, the Labor Department reported a 0.6% rise in the Producer Price Index during the month, versus a consensus estimate that was looking for an increase of 0.4%.
Excluding food and energy, the so-called "core rate," the PPI was up 0.3% during April. This was also a faster pace than a consensus estimate that was looking for an increase of 0.2%.
Tomorrow morning, Labor will report on consumer prices for April. After that release is out, I will publish a detailed analysis of those results, today's PPI data, and the results of last week's report on import prices.
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