Manufacturer's commodity prices recorded a high jump in March, growing at the fastest rate since the data was first published.
The Producer Price Index (CPI), which measures the price of goods paid by wholesalers, rose 11.2% per annum in March. It was the largest increase since November 2010. On a monthly basis, the CPI rose 1.4%, exceeding the Dow Jones' target of 1.1%.
Excluding food services, trade and energy which is often known as the core CPI, it has increased 0.9% on a monthly basis, almost double the estimated 0.5% and the largest monthly gain since January 2021. With this the core CPI increased 7% on a year -over -year basis. to the year.
It should be noted that the CPI is one of the measures of inflation that covers more aspects because it takes into account supply chain factors. This data was released after the Consumer Price Index (CPI) rose by 8.5% in March and it was the highest reading since December 1981.
Rising inflation has prompted the Federal Reserve to begin tightening monetary policy. In March, the Fed raised its benchmark short -term lending rate by 0.25 percentage points as a first step. The Fed is expected to continue raising rates by up to 2.5% by the end of the year.
The market showed no significant reaction after this data was released with the US dollar Index which measures the US dollar against six major currencies having strengthened to the trading level of 100.480.
