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- U.S. PPI rises much more than expected in March
U.S. PPI rises much more than expected in March
The Labor Department reported on Friday the U.S. producer-price index (PPI) rose 1.0 percent m-o-m in March, following an unrevised 0.5 percent m-o-m gain in February.
For the 12 months through March, the PPI increased 4.2 percent after an unrevised 2.8 percent climb in the previous month. That was the largest increase since the 12 months ended September 2011.
Economists
had forecast the headline PPI would increase 0.5 percent m-o-m last month and 3.8
percent over the past 12 months.
According
to the report, almost 60 percent of the March increase in the index for final
demand can be traced to a 1.7-percent climb in prices for final demand goods (the largest gain since the index began in December 2009). In addition, the
index for final demand services advanced 0.7 percent.
Excluding
volatile prices for food and energy, the PPI went up 0.7 percent m-o-m and
jumped 3.1 percent over 12 months (the largest advance since the 12 months
ended September 2018). Economists had forecast gains of 0.2 percent m-o-m and 2.7
percent y-o-y.
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