Updated: 11-Apr-24 09:13 ET
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Updated: 11-Apr-24 09:13 ET |
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Highlights
- The March Producer Price Index for final demand (PPI) increased 0.2% month-over-month (Briefing.com consensus 0.3%) after increasing by 0.6% in February.
- The Producer Price Index for final demand, excluding food and energy (core PPI), also increased 0.2% month-over-month (Briefing.com consensus 0.2%) after increasing 0.3% in February.
- On a year-over-year basis, PPI was up 2.1% versus 1.6% in February while core PPI was up 2.4% versus 2.1% in February.
Key Factors
- The index for final demand goods decreased 0.1% after rising 1.2% in February. Index for final demand energy fell 1.6% while the index for final demand foods rose 0.8%.
- The index for final demand services rose 0.3% for the second consecutive month. The increase was led by a 0.2% increase in the index for final demand services less trade, transportation, and warehousing.
- The index for processed goods for intermediate demand fell 0.5% after increasing 1.5% in February.
- The index for unprocessed goods for intermediate demand decreased 1.9% after falling 0.7% in February.
Big Picture
- The key takeaway from the report is that even with the smaller than expected month-over-month increases, the year-over-year growth rates for PPI and core PPI accelerated.
Category |
MAR |
FEB |
JAN |
DEC |
NOV |
Final Demand |
0.2% |
0.6% |
0.4% |
-0.1% |
0.1% |
Core (excluding ...) |
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|
|
|
|
Food and Energy |
0.2% |
0.3% |
0.5% |
0.0% |
0.2% |
Food, Energy, and Trade |
0.2% |
0.3% |
0.6% |
0.3% |
0.1% |
Final Demand Goods |
|
|
|
|
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Total |
-0.1% |
1.2% |
-0.1% |
-0.1% |
-0.2% |
Energy |
-1.6% |
4.1% |
-1.2% |
-0.8% |
-2.0% |
Finished Goods |
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|
-0.1% |
0.0% |
0.2% |
Final Demand Services |
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|
|
|
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Total |
0.3% |
0.3% |
0.6% |
-0.1% |
0.2% |
Trade |
0.3% |
0.1% |
0.2% |
-1.1% |
0.4% |
Intermediate Demand |
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|
|
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Processed |
-0.5% |
1.5% |
-0.1% |
-0.4% |
-0.7% |
Unprocessed |
-1.9% |
-0.7% |
1.5% |
-4.1% |
-2.1% |
Services |
0.2% |
0.0% |
0.7% |
0.4% |
0.5% |