• Main
  • Analytics
  • Market News
  • U.S. PPI rises slightly less than anticipated in March
Economic news
11.04.2024

U.S. PPI rises slightly less than anticipated in March

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).

See also