WASHINGTON (dpa-AFX) - Producer prices in the U.S. unexpectedly decreased in the month of April, according to a report released by the Labor Department on Thursday.
The Labor Department said its producer price index for final demand fell by 0.5 percent in April following a revised unchanged reading in March.
Economists had expected producer prices to rise by 0.2 percent compared to the 0.4 percent decline originally reported for the previous month.
The report also said the annual rate of producer price growth slowed to 2.4 percent in April from a revised 3.4 percent in March.
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