Investing.com – Producer price inflation in the U.S. rose less-than-expected in March, official data showed on Thursday.
In a report, the Bureau of Labor Statistics said that PPI rose by a seasonally adjusted 0.7% in March, after jumping by 1.6% in February.
Analysts had expected PPI to increase by 1% in March.
According to the data, the producer price index rose at an annualized rate of 5.8% in March, after advancing at a rate of 5.6% in February. Analysts expected year-on-year PPI to rise at an annualized rate of 6.4%.
The report also showed that core PPI, which excludes food and energy costs, rose more-than-expected in March, increasing by 0.3% after rising by 0.2% in the preceding month. Analysts had expected core PPI to rise by 0.2% in March.
Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD shedding 0.22% to hit 1.4410.
Meanwhile, the outlook for U.S. equity markets was downbeat. The Dow Jones Industrial Average futures pointed to a loss of 0.44%, S&P 500 futures indicated a drop of 0.62%, while the Nasdaq 100 futures pointed to a decline of 0.7%.
In a report, the Bureau of Labor Statistics said that PPI rose by a seasonally adjusted 0.7% in March, after jumping by 1.6% in February.
Analysts had expected PPI to increase by 1% in March.
According to the data, the producer price index rose at an annualized rate of 5.8% in March, after advancing at a rate of 5.6% in February. Analysts expected year-on-year PPI to rise at an annualized rate of 6.4%.
The report also showed that core PPI, which excludes food and energy costs, rose more-than-expected in March, increasing by 0.3% after rising by 0.2% in the preceding month. Analysts had expected core PPI to rise by 0.2% in March.
Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD shedding 0.22% to hit 1.4410.
Meanwhile, the outlook for U.S. equity markets was downbeat. The Dow Jones Industrial Average futures pointed to a loss of 0.44%, S&P 500 futures indicated a drop of 0.62%, while the Nasdaq 100 futures pointed to a decline of 0.7%.