WASHINGTON — The producer price index rose 0.8% in April, the Labor Department reported Thursday.

Core prices, which exclude food and energy goods, rose 0.3%.

The increase in the PPI was higher than the 0.6% increase projected by economists, according to the median estimate from Thomson Reuters.

Economists were slightly low with their projection for a 0.2% gain in core prices.

The 08% gain in producer prices followed an unrevised 0.7 increase in March.

The April gain was, as expected, led by energy, with finished energy goods rising 2.5% for the month. Gasoline rose 3.6%.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.