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APRIL PPI DOWN 0.1%, CORE UP 0.2%

Published Wednesday, 19th May 2010 12:31 am - © 2010 MNI News

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Producer prices ticked down 0.1% in April, under forecasts of a 0.1% rise and following a 0.7% increase in March.

Falling prices for finished energy goods and food products sparked the headline turndown, with liquified petroleum gas off 5.8%, natural gas down 1.3%, and gasoline down 2.7%. Egg prices plunged more than 16% and vegetables sank 10.2%. Meat prices, however, rose 5%, the most in 6.5 years.

Core PPI rose 0.2%, slightly more than expected after a 0.1% rise prior. Household appliances were up 1.9% -- the biggest increase since 1974. Prices for passenger cars rose 0.6% and pharmaceuticals were up 0.3%.

Meanwhile, Intermediate goods prices rose 0.8% and crude goods fell 1.2%, pulled down by a 19% drop in natural gas.

Headline PPI was 5.5% higher compared to April 2009. Core prices showed a 1% increase from the same month last year.

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