US producer prices rose more than expected in March, resulting in the largest annual increase in 9-1 / 2 years, which is in line with expectations for higher inflation as the economy reopens amid an improved public environment health and massive government funding.
The producer price index for final demand rose 1.0% last month after rising 0.5% in February, the Department of Labor said on Friday. In the twelve months to March, the PPI rose by 4.2%. This was the largest year-on-year increase since September 2011, following a 2.8% increase in February.
Economists called by Reuters predicted that the PPI would rise by 0.5% in March and rise by 3.8% year-on-year. The report was delayed after the Bureau of Labor Statistics website crashed.
This is news. Please come and check for updates.