Producer prices jumped 1.4 percent in May

Washington -- U.S. producers paid 1.4 percent more for finished goods in May, the U.S. Labor Department said Tuesday.

The figure was a sharp jump over the 0.2 percent price rise producers experienced in April.

In May, prices for intermediate goods rose 2.9 percent, following a 0.9 percent gain in April.

Prices for crude goods rose 6.7 percent after an 3.2 percent climb in April.
The core finished goods index, which excludes energy and food prices,

increased 0.2 percent but energy prices rose 4.9 percent on the month, while food prices rose 0.8 percent.

Energy prices were pushed by 9.3 percent jump in gasoline prices, partly offset by more modest 0.6 rise in electricity prices, which rose 1.2 percent a month ago, the report said.

Copyright 2008 by United Press International.