A measure of wholesale prices increased less than expected in March, providing some potential relief from worries that inflation will hold higher for longer than many economists had expected.
The producer price index increased 0.2% for the month, less than the 0.3% estimate from the Dow Jones consensus and not as much as the 0.6% increase in February, according to a release Thursday from the Labor Department's Bureau of Labor Statistics.
However, on a 12-month basis, CPI rose 2.1%, the biggest gain since April 2023, indicating pipeline pressures that could keep inflation elevated.
Excluding food and energy, core PPI also rose 0.2%, meeting expectations. Excluding trade services from the core level, the increase was 0.2% monthly but 2.8% from a year ago.
The release comes a day after the BLS reported that consumer prices again rose more than expected in March, raising concerns that the Federal Reserve will be unable to lower interest rates anytime soon.
On the producer price side, March's gain was pushed by services, which saw a 0.3% increase on the month. Within that category, the index for securities brokerage and other investment-related fees jumped 3.1%.
Conversely, goods prices decreased 0.1%, flipping a 1.2% increase in February. Final demand costs for energy, which has been on the rise lately, actually fell 1.6% on the month. However, wholesale prices for final demand food and goods less food and energy climbed 0.8% and 0.1% respectively.
This is breaking news. Please check back here for updates.
English (US) · 
Turkish (TR) · 