US producer prices rose more than expected in March, resulting in the biggest annual gain in 9-1 / 2 years, matching expectations for higher inflation as the economy reopens amid an environment improved public health and massive government funding.
The output price index for final demand rose 1.0% last month, after rising 0.5% in February, the Labor Department said on Friday. In the 12 months to March, the PPI rose by 4.2%. This was the largest year-on-year increase since September 2011 and followed by an advance of 2.8% in February.
Economists called by Reuters had forecast PPI to rise 0.5% in March and 3.8% year-on-year. The report was postponed after the website of the Bureau of Labor Statistics collapsed.
This is breaking news. Please check again for updates.