The Labor Department said on Wednesday its producer price index for final demand edged up 0.1% last month after increasing 0.3% in March. That lowered the year-on-year increase in the PPI to 2.6% from 3.0% in March.

The market had forecast the PPI gaining 0.2% last month and rising 2.8% from a year ago.

A key gauge of underlying producer price pressures that excludes food, energy and trade services also nudged up 0.1% last month. The so-called core PPI had increased by 0.4% in each of the past three months.

In the 12 months through April, the core PPI rose 2.5% after jumping 2.9% in March.

Core goods prices increased 0.3% in April, matching March's gain. Prices for intermediate processed goods increased 0.5% while the cost of unprocessed goods shot up 0.9%.

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