Financial News: U.S. Producer Prices Rise In Line With Estimates

U.S. Producer Prices Rise In Line With Estimates In March

04/11/2024 - 08:36:00 (RTTNews)

(RTTNews) - Following yesterday's hotter-than-expected consumer price inflation data, the Labor Department released a report on Thursday showing U.S. producer prices increased in line with economist estimates in the month of March.

The Labor Department said its producer price index for final demand crept up by 0.2 percent in March after climbing by 0.6 percent in February. The uptick matched expectations.

Meanwhile, the report said the annual rate of producer price growth accelerated to 2.1 percent in March from 1.6 percent in February.

The annual rate of growth was the fastest since jumping 2.3 percent last April but came in slightly slower than economists' forecast of 2.3 percent.

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