US Producer Prices Rise Below Forecasts
The producer price index (PPI) increased 4% year over year, falling short of market forecasts of 4.6%. On a monthly basis, prices climbed 0.5%, also below expectations of a 1.1% rise.
Energy costs were a major driver of price gains, jumping 8.5% during the month. Within that category, gasoline prices recorded a sharp increase of 15.7%.
Meanwhile, the core PPI—which excludes food, energy, and trade services—rose a modest 0.2% in March compared to the previous month, indicating more contained underlying inflation.
The latest figures follow February’s data, when producer prices increased 0.5% month over month and 3.4% annually.
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