Growth in US producer prices in March was the fastest in 5 months

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The US Department of Labor reported that producer prices in the country rose by 0.6% in March, which was the largest increase since October 2018. In February, the index rose only by 0.1%, and experts had expected its growth to accelerate last month to 0.3%. Producer prices in annual terms showed an acceleration of growth to 2.2% from 1.9% in the previous month. The prices excluding energy carriers, foodstuffs and trade services, rose over the month in the same way as a month earlier - by 1.1%. In annual terms, the figure increased by 2%, which was the lowest growth since August 2017. Wholesale energy prices jumped 5.6%. At the same time, gasoline prices rose at the fastest pace since August 2009, an increase of 16%. Food prices rose by 0.3%, basic goods - by 0.2%. The cost of services increased by 0.3%.

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