Wholesale prices rise
Producer prices climb 0.3% in April as food costs increase.
WASHINGTON (Reuters) -- U.S. producer prices rose faster than expected in April, government data showed Thursday, driven by a surge in food costs.
The Labor Department said the Producer Price Index climbed 0.3% after declining 1.2% in March. Food prices rose 1.5% in April, the biggest increase since January 2008. Food costs rose on a record jump in egg prices, along with soaring prices for vegetables and meat.
Excluding food, the headline PPI would have increased 0.1%.
Analysts polled by Reuters had forecast a 0.1 percent rise in the overall index.
However, compared to the same period last year, prices received by producers tumbled 3.7%, the biggest decline since January 1950.
Core producer prices, excluding food and energy costs, rose 0.1% in April, matching market expectations. The core PPI was unchanged in March.
Compared to the same period a year ago, core producer prices were up 3.4%.
Energy prices fell 0.1% in April versus a 5.5% decline in March. Gasoline prices edged up 2.6% in April and residential natural gas fell 6.2%. 
