US producer prices rose more than expected in March, resulting in the largest annual gain in 9-1 / 2 years, in line with expectations for higher inflation as the economy picks up amid an improved public health climate and massive government funding.
The producer price index for final demand rose 1.0% last month after a 0.5% rise in February, the Labor Ministry said Friday. In the 12 months to March, the PPI increased by 4.2%. That was the largest year-on-year increase since September 2011 and followed a 2.8% increase in February.
Economists called on by Reuters had predicted that the PPI would rise 0.5% in March and rise 3.8% year-on-year. The report was delayed after the Bureau of Labor Statistics website crashed.
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