U.S. Producer Price Index for Final Demand Rises 0.5% in March

The U.S. Bureau of Labor Statistics reported that the Producer Price Index for final demand increased 0.5 percent in March, seasonally adjusted. This rise was driven by a 1.6-percent advance in final demand goods, while final demand services were unchanged. On an unadjusted basis, the index rose 4.0 percent for the 12 months ended in March, the largest 12-month advance since February 2023. The rise in goods prices was largely attributed to an 8.5-percent jump in final demand energy, with gasoline prices increasing 15.7 percent, although fresh and dry vegetables fell 10.7 percent.