The prices of US Producer has increased the maximum in five months, during the month of March. On Thursday, the Labor Department issued a statement that their producer price index for final demand had gone up by 0.6 percent last month. It was mainly due to an increase in the price of gasoline. That happened to be the largest increase since the month of October last year. It was then followed up by a profit of 0.1 percent in February. In the one year period through March, the PPI had a rise of 2.2 percent after going up 1.9 percent in February.
A key basis of underlying producer price pressures, which excludes food, energy and trade services, remained unchanged in March after going up 0.1 percent in February. The core PPI had a rise of 0.2 percent in the 12 months right through March. It turned out to be the smallest increase annually since August 2017 and managed to follow a rise of 2.3 percent in February. On Wednesday, the data showed that consumer prices had risen the most in 14 months ending in March. It was mainly driven due to a lot more expensive gasoline. Slow domestic, as well as worldwide growth, are keeping inflation under check.
In March, the prices of wholesale foods had a rise of 0.3 percent. Thus it reversed a drop of 0.3 percent in February. Prices of core goods also had a rise of 0.2 percent after going up 0.1 percent in February. March also saw the cost of services increasing 0.3 percent after remaining unchanged in the month before. Healthcare prices also suffered a fall of 0.2 percent last month. Sharp fall was also seen in the cost of services towards hospital outpatients.
Dale Bennett was a Service Analyst by profession and writing is his calling. Owing to his interest, he has quit his 9 to 5 job and has been working as an author at Today News Air. He is a voracious reader and an avid traveller.