Investing.com - Producer price inflation in the U.S. fell unexpectedly in March, while core prices were also lower, according to official data released on Wednesday.
Producer prices fell by a seasonally adjusted 0.1% last month the Commerce Department said, against forecasts for a 0.2% increase.
The producer price index was down 0.1% from a year earlier, compared to expectations for an increase of 0.3%.
The core producer price index, that excludes food and energy, also fell 0.1% last month, missing forecasts of a 0.1% increase after a flat reading in February.
Core producer prices rose at an annualized rate of 1.0% last month, below expectations for 1.3% advance.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, ticked back to 95.45 from 95.54 earlier, still holding above Tuesday’s eight-month lows of 93.62.