Advertisement
Australia markets closed
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • ASX 200

    7,896.90
    +77.30 (+0.99%)
     
  • AUD/USD

    0.6510
    -0.0026 (-0.40%)
     
  • OIL

    82.60
    +1.25 (+1.54%)
     
  • GOLD

    2,237.40
    +24.70 (+1.12%)
     
  • Bitcoin AUD

    108,635.89
    -452.55 (-0.41%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • AUD/EUR

    0.6021
    -0.0009 (-0.16%)
     
  • AUD/NZD

    1.0894
    +0.0014 (+0.13%)
     
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NASDAQ

    18,280.84
    +70.30 (+0.39%)
     
  • FTSE

    7,954.48
    +22.50 (+0.28%)
     
  • Dow Jones

    39,760.08
    +477.75 (+1.22%)
     
  • DAX

    18,488.36
    +11.27 (+0.06%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     

US producer prices jump in March

A worker climbs up a pile of rubble during demolition of a building on April 8, 2014 in Washington

US producer prices surged higher in March as demand for services increased the most in four years, government data released Friday showed.

The Labor Department said its producer price index rose 0.5 percent in March, after a slight 0.1 percent dip in February.

Excluding food and energy prices, so-called core PPI increased 0.1 percent.

The March jump in producer prices was much stronger than the 0.1 percent rise expected by analysts, while core CPI matched estimates.

Final demand prices in services jumped 0.7 percent led the overall prices gain. It was the largest increase since an 0.8 percent gain in January 2010.

ADVERTISEMENT

Prices for final demand goods were unchanged.

On an annual basis, PPI climbed 1.4 percent, the strongest gain since August but still well below the 2.0 percent overall inflation target set by the Federal Reserve for price stability.