URL has been copied successfully!
Higher energy prices raised producer prices in March, but the jump undershot economists’ expectations, suggesting less underlying pressure than anticipated.
The producer price index—a measure of prices businesses pay for goods and services—jumped by 0.5 percent in March, according to new Bureau of Labor Statistics data released on April 14.
It came in below the consensus forecast of a 1.1 percent rise.
March’s increase was driven entirely by the 1.6 percent jump in final demand goods, the largest since August 2023. Most of this can be traced to higher energy costs, particularly an almost 16 percent spike in gasoline prices.
Other goods also edged up, including diesel and jet fuel, home heating oil, meats, and basic organic chemicals. Conversely, the indexes for fresh and dry vegetables and natural gas declined….
The producer price index—a measure of prices businesses pay for goods and services—jumped by 0.5 percent in March, according to new Bureau of Labor Statistics data released on April 14.
It came in below the consensus forecast of a 1.1 percent rise.
March’s increase was driven entirely by the 1.6 percent jump in final demand goods, the largest since August 2023. Most of this can be traced to higher energy costs, particularly an almost 16 percent spike in gasoline prices.
Other goods also edged up, including diesel and jet fuel, home heating oil, meats, and basic organic chemicals. Conversely, the indexes for fresh and dry vegetables and natural gas declined….
Please follow us:
