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US producer prices surge in April

US producer prices jumped for the second month in a row in April, led by a leap in prices for machinery and equipment, the Labour Department said on Wednesday.

WASHINGTON: US producer prices jumped for the second month in a row in April, led by a leap in prices for machinery and equipment, the Labour Department said on Wednesday.

The producer price index rose 0.6 per cent in April, following a 0.5 per cent gain in March.

Core PPI, excluding food and energy prices, increased 0.5 per cent after a 0.6 per cent rise in March.

The April increase in prices at the factory gate was well above analysts' average estimate of a 0.2 per cent gain for both PPI and core PPI.

Compared with a year ago, the change in overall producer prices was up a moderate 2.1 per cent.

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