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US Producer Prices Cooler Than Expected In March Despite Surge In Energy Costs
US Producer Prices Cooler Than Expected In March Despite Surge In Energy Costs
The month-over-month change in producer prices had accelerated for five straight months ahead of today's March data, which is expected to surge thanks to Iran-war impacts on energy costs.
Against expectations of a 1.1% MoM rise, March's Headline PPI shocked everyone by rising only 0.5% MoM (equal to the revised lower 0.5% MoM rise in both of the last two months). This pushed PPI up 4.0% YoY (the highest since Feb 2023) but well below the +4.6% YoY...
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