U.S. Producer Prices Rose 2.1% from Last Year, Most Since April – RVBusiness – Breaking RV Industry News
WASHINGTON — U.S. producer prices rose rose in March from a year earlier at the fastest pace in nearly a year, but the gain was less than economists expected. And wholesale inflation eased on a month to month basis, according to an Associated Press report.
The Labor Department said Thursday that its producer price index — which measures inflationary pressure before it reaches consumers — rose 2.1% last month from March 2023 , biggest year-over-year jump since April 2023. But economists had forecast a 2.2% increase, according to a survey of forecasters by the data firm FactSet. And compared to February, wholesale prices were up just 0.2%, down from a 0.6% gain in February.
Stripping out volatile food and energy prices, so-called core wholesale prices were up 0.2% last month from February, the second straight drop, and 2.4% from March 2023. The year-over-year increase in core producer prices was the most since August.
Click here to read the full Associated Press report.
