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Producer Prices Increase Less Than Expected

By 17吃瓜在线 News Room

Prices paid by businesses to goods and services producers in the U.S. rose by slightly less than anticipated in March, according to .

What鈥檚 going on: 鈥淭he producer price index for final demand rose 0.2% last month, after rising by 0.6% in February, the Labor Department鈥檚 Bureau of Labor Statistics said. Economists had expected the PPI to gain 0.3%. In the 12 months through January, the PPI increased 2.1%, below the 2.2% expected, after climbing 1.6% in February.鈥

  • 鈥淐ore鈥 PPI, which excludes food and energy prices, rose 0.2% on the month, for an annual increase of 2.4%.
  • The data comes just a day after the release of a higher-than-anticipated consumer price index for last month.

The details: Services inflation stayed elevated, with a gain of 0.3% in prices in March, reports.

  • Goods prices, however, edged down 0.1%.
  • A 1.6% decline in energy prices made up much of March鈥檚 overall decrease and outweighed a 0.8% increase in food prices.

Why it鈥檚 important: The news may mean an interest-rate cut from the Federal Reserve will come later than previously thought.

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