April 13, 2007
Producer prices nudged upward
By Matthew L. Brown
Higher prices for food and energy pushed up producer prices by 1 percent in March, but core prices at the wholesale level were unchanged, the U.S. Department of Labor reported.
The gain is the second straight of 1 percent or more in the PPI. The core rate was the lowest since a 0.4 percent drop in October.
According to the report, inflation is moderating. The PPI is up 3.2 percent in the past 12 months, the biggest year-over-year gain since August.
The core PPI is up 1.7 percent in the past year, down from 1.8 percent in the 12 months ending in February.
The department is expected to report on the consumer price index Tuesday.
The gain is the second straight of 1 percent or more in the PPI. The core rate was the lowest since a 0.4 percent drop in October.
According to the report, inflation is moderating. The PPI is up 3.2 percent in the past 12 months, the biggest year-over-year gain since August.
The core PPI is up 1.7 percent in the past year, down from 1.8 percent in the 12 months ending in February.
The department is expected to report on the consumer price index Tuesday.
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