The Labor Department reported on Thursday the U.S. producer-price index (PPI) rose 0.2 percent m-o-m in April after an unrevised 0.6 m-o-m increase in March.

For the 12 months through April, the PPI rose 2.2 percent, the same pace as in the prior month. 

Economists had forecast the headline PPI would increase 0.2 percent m-o-m last month and 2.3 percent over the past 12 months.

According to the report, the April rise in the index for final demand was led by prices for final demand goods, which climbed 0.3 percent m-o-m. Meanwhile, the index for final demand services edged up 0.1 percent m-o-m, and prices for final demand construction rose 1.6 percent m-o-m.

Excluding volatile prices for food and energy, the PPI increased 0.1 percent m-o-m and rose 2.4 percent over 12 months. Economists had forecast gains of 0.2 percent m-o-m and 2.5 percent y-o-y, respectively.