Producer Prices Rise 0.3% in April

Prices paid to U.S. producers increased 0.3% in April, the Labor Department said Thursday.

The core producer price index, which excludes food and energy, gained 0.1%, Labor said.

Economists had predicted the PPI would rise 0.2%, 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.