Producer prices rise far lower than expectations in March
The producer price index, which measures the inflation rate at the wholesale level, increased half what estimates had expected to see.
Despite the impact of the conflict in Iran on energy prices, producer prices increased less than was expected in March.
The seasonally adjusted producer price index (PPI), which is a measure of inflation at the wholesale level, increased 0.5% for the month, according to a Bureau of Labor Statistics report on Tuesday.
The increase was considerably less than the Dow Jones consensus estimate of 1.1%, CNBC reported.
The core PPI, which excludes food and energy, was up 0.1% compared to the estimate of 0.5%. The inflation rate for services, which is watched closely by Federal Reserve policymakers, was flat for the month.
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