Wholesale prices rose 0.5% in April, more than expected

Wholesale prices jumped more than expected in April, putting up another potential roadblock to interest rate cuts anytime soon.

The produce price index, a measure of what producers receive for the goods they produce, increased 0.5% for the month, higher than the 0.3% Dow Jones estimate. However, the March reading was revised from an initially reported 0.2% gain to a decline of 0.1%.