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Growth rate of Producer Price Index slows

PORTLAND, OR , June 14, 2011 (RISI) - The Producer Price Index for finished goods rose 0.2% in May, according to the Bureau of Labor Statistics. This is a slower pace of growth than the 0.8% increase in April or the 0.7% gain for March. Goods in the intermediate stage of processing gained 0.9% in May, but crude goods fell 4.1%. When compared with the finished goods index of a year ago, prices have moved up 7.3%. This is the greatest advance since an increase of 8.8% in September 2008.