March Wholesale Prices Rise Less Than Expected on Lower Food Costs
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The cost of wholesale goods in the U.S. rose less than expected last month, led by higher energy costs and prices for automobiles.
The Labor Department reported Thursday the producer-price index rose 0.7 percent in March, as food prices dropped unexpectedly for the first time since August.
Economists estimated the PPI would rise 1.0 percent for March.
The core-PPI, which excludes the impact of volatile food and energy costs, rose 0.3 percent, more than estimated by economists.
Fuel costs rose 2.6 percent as gasoline prices increased 5.7 percent, while the cost for passenger cars rose 0.9 percent, the most since June 2009.
The Labor Department reported Thursday the producer-price index rose 0.7 percent in March, as food prices dropped unexpectedly for the first time since August.
Economists estimated the PPI would rise 1.0 percent for March.
The core-PPI, which excludes the impact of volatile food and energy costs, rose 0.3 percent, more than estimated by economists.
Fuel costs rose 2.6 percent as gasoline prices increased 5.7 percent, while the cost for passenger cars rose 0.9 percent, the most since June 2009.
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