Prices paid to U.S. producers rose in June for the first time in four months, reflecting an increase in food costs, the Labor Department said Friday.
The producer price index rose 0.1%, the first rise since March, following a 1% decline in May.
Economists had forecast a 0.4% decline of the overall PPI rate, Bloomberg reported.
The so-called core PPI excluding food and energy rose 0.2%, Labor said.
The core rate matched projections, Bloomberg reported.
An increase in the PPI could indicate strong demand for goods, which would mean more shipments for trucking companies. However, if inflation begins to accelerate too quickly, it could also hurt the economy