US producer prices decline unexpectedly in March

(Sharecast News) - Wholesale prices in the States undershot market forecasts last month, partly as a result of a decline in energy costs. According to the Department of Labor, so-called final demand prices dropped at a month-on-month pace of 0.4% in March (consensus: 0.2%).

Final demand goods prices plummeted by 0.9% when compared to February, with those for food down by 2.1% and energy by 4.0%.

In annual terms, final demand price growth slowed from a 3.2% clip in February to 2.7% last month.

Outside of food and energy, final demand goods prices rose by 0.3%.

Prices for final demand services meanwhile dipped by 0.2% on the month, led by a 0.7% drop in trade services prices.

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