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U.S. producer prices rose more than expected in March

(Bloomberg)-US producer prices are well above last month’s expectations, indicating that inflationary pressures continue to rise across the country’s economy. The producer price index for final demand in March was 0.5%, up 1% from the previous month. The Labor Department said it profited in February on Friday. According to a Bloomberg economist survey, profits were twice the median forecast due to accelerated cost increases in goods and services. The data was normally scheduled to be released at 8:30 am New York time, but was delayed on the government website. According to Scott Sager, an economist at the Bureau of Labor Statistics, authorities are still investigating what went wrong. The S & P 500 remained largely unchanged in early trading, with benchmark 10-year Treasury yields rising. Excluding volatile food and energy components, so-called core PPIs rose 0.7% month-on-month. Overall PPI has increased by 4.2% since March 2020, when prices fell due to the pandemic. This was the sharpest annual profit since 2011. Year-over-year figures accelerate rapidly, given the decline in key inflation indicators at the start of the pandemic. This is a development called the basic effect. Tuesday’s hot consumer price index report also shows an upward distortion. Producer prices, which can be passed on to consumers, are rising at a vigorous pace, and fierce debate has already ignited. Inflation path in the coming months. Commodity costs rose 1.7% in March, the highest on record until December 2009. More than 25% of the rise was due to a 8.8% surge in gasoline prices. Service costs rose 0.7%, the third consecutive year of growth, boosted by higher retail and wholesaler margins. Material shortages Material shortages are pushing up input prices, while producers are tackling higher shipping costs and bottlenecks-Federal Reserve Board policymaker Jerome Powell, Fed Chairman Jerome Powell said Thursday The panel said price pressures are expected to increase as the economy resumes, but the recovery in inflation is likely to be temporary. Expect very carefully. Powell will react if they see us moving sustainably and practically above comfortable levels. ” Most Volatility-March March growth was 0.6% month-on-month and 3.1% year-on-year. Paid indexes for both manufacturers and service providers at Supply Control Laboratories have skyrocketed to their highest levels since 2008 in recent months. In the midst of supply chain turmoil, limited availability of materials, and soaring input prices, some executives plan to raise consumer prices that could drive inflation measures like CPI next week. Mention. Along with the injection of large amounts of financial assistance, the surge in demand should support the acceleration of consumer prices, but it is unclear if price increases will continue, but if these price increases are absent or only partially passable. For consumers, if it is difficult for a company to cut costs elsewhere, it can put more pressure on profit margins. (Updated by comments from the Bureau of Labor Statistics) Visit bloomberg.com for articles like this. Subscribe now to get the most trusted business news sources. .. © 2021 Bloomberg LP

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