Producer Prices Rise in April on Higher Energy

Washington, DC, May 12, 2011 -- U.S. companies paid more for raw materials and factory goods in April, mostly due to rising energy prices, according to the Labor Department.

The Producer Price Index, which tracks price changes before they reach the consumer, rose 0.8% last month, the government said.

That's slightly above the 0.7% gain in March. Excluding the volatile food and energy categories, the core index increased 0.3 percent, the same as in the previous month.

Over the past 12 months, the index has increased 6.8 percent, the biggest gain in nearly three years. Outside of food and energy, prices rose 2.1 percent, up from a 1.9% gain in March.