The Labor
Department announced on Thursday the U.S. producer-price index (PPI) increased
0.2 per cent m-o-m in March, following an unrevised 0.6 per cent m-o-m jump in February. This marked the third straight monthly advance in PPI.
For the 12
months through March, the PPI soared by 2.1 per cent, noticeably accelerating from
an unrevised 1.6 per cent advance in the previous month. This represented
the strongest annual gain since April 2023 (+2.3 per cent).
Economists had forecast
the headline PPI would increase 0.3 per cent m-o-m and 2.2 per cent over the
past 12 months.
According to
the report, the March increase in the index for final demand was due to a
0.3-per cent m-o-m rise in the index for final demand services. Meanwhile, the
index for final demand goods slipped 0.1 per cent m-o-m
Excluding
volatile prices for food and energy, the PPI rose 0.2 per cent m-o-m and
surged 2.4 per cent over 12 months, registering its largest annual increase in
seven months.
Economists had forecast gains of 0.2 per cent m-o-m and 2.3 per cent y-o-y for March.
In February, the core PPI recorded a 0.3 per cent m-o-m
advance and a 2.1 per cent
y-o-y climb (revised from +2.0 per cent y-o-y in the initial estimate).