Wholesale Inflation Rises at Fastest Annual Pace Since April Despite Monthly Drop

• U.S. producer prices rose 2.1% in March from a year earlier, the fastest pace since April 2022 • The increase was less than economists expected (2.2%) • Wholesale inflation eased 0.2% month-to-month from February to March • Core wholesale prices rose 2.4% from a year ago, the most since August 2022
• The data adds to inflation concerns after Wednesday's hot consumer price report, casting doubt on when the Fed will cut interest rates