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April 12, 2024

Producer prices up less than expected

WASHINGTON (AP) — U.S. producer prices rose in March from a year earlier at the fastest pace in nearly a year, but the gain was less than economists expected. And wholesale inflation eased on a month to month basis.

The Labor Department said Thursday that its producer price index — which measures inflationary pressure before it reaches consumers — rose 2.1% last month from March 2023. But economists had forecast a 2.2% increase, according to a survey of forecasters by the data firm FactSet.


 
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