Economic Buzz: US Producer Price Growth Jumps To Record High In March

14 Apr 2022 , 09:09 AM

US producer price index for final demand shot up by 1.4 percent in March after advancing by an upwardly revised 0.9 percent in February, the Labor Department reported on Wednesday. Energy prices led the way higher, skyrocketing by 5.7 percent during the month, while food prices also spiked by 2.4 percent. With the bigger than expected monthly increase, the annual rate of producer price growth accelerated to a record high 11.2 percent in March from 10.3 percent in February.

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