Economic Report: Wholesale prices surge on higher cost of gas, PPI shows, but inflation mostly tame

Bloomberg News/Landov
The cost of most wholesale goods and services in the U.S. aren’t rising very much aside from gas and other forms of energy.

The numbers: The wholesale cost of U.S. goods and services surged in March, but almost all of the increase reflected the higher cost of gas. Evidence of rising inflation was otherwise largely absent.

The producer price index climbed 0.6% last month. Economists polled by MarketWatch had predicted a 0.3% increase.

Yet another measure of wholesale costs that strips out volatile food and energy prices, known as core PPI, was flat on the month.

The rate of wholesale inflation in the past 12 months rose to 2.2% in March from 1.9%, but it’s still much lower compared to last summer, when it touched a seven-year high of 3.4%.

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