US Producer Prices Rise 2.1% Annually in March, But Monthly Growth Slows
- 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
- Wholesale inflation eased 0.2% month-to-month from February
- Core producer prices rose 2.4% from March 2022, the most since August
- The data came after a hotter-than-expected consumer inflation report, casting doubt on when the Fed will cut interest rates
