US Producer Prices Fell in March by Most Since Start of Pandemic
- Index slid 0.5% in March, mostly due to cheaper gasoline costs
- Ex-food, energy and trade services, PPI rose least since 2020
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US producer prices fell in March by the most since the start of the pandemic, driven by a decline in gasoline costs that has helped slow inflationary pressures.
The producer price index for final demand decreased 0.5% from a month earlier, according to data out Thursday from the Bureau of Labor Statistics. The figure was below all estimates in a Bloomberg survey of economists. The PPI slowed on an annual basis, rising 2.7% from a year ago, the smallest gain in more than two years.