{"id":2218221,"date":"2024-04-11T09:24:02","date_gmt":"2024-04-11T13:24:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-rose-to-2-1-in-march-in-producer-price-index-adding-to-signs-prices-are-hot\/"},"modified":"2024-04-11T09:27:00","modified_gmt":"2024-04-11T13:27:00","slug":"inflation-rose-to-2-1-in-march-in-producer-price-index-adding-to-signs-prices-are-hot","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-rose-to-2-1-in-march-in-producer-price-index-adding-to-signs-prices-are-hot\/","title":{"rendered":"In March, inflation surged to 2.1% in the producer price index, indicating a significant rise in prices"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">34<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Finflation-rose-to-2-1-in-march-in-producer-price-index-adding-to-signs-prices-are-hot%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2218221&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The Bureau of Labor\u2064 Statistics \u200breported that inflation, as per the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/breaking-u-s-producer-price-index-skyrockets-registers-twice-as-high-as-expected-for-april\/\" title=\"BREAKING: U.S. Producer Price Index Skyrockets, Registers Twice As High As Expected For April\">producer price index<\/a>, increased by 0.6 \u200dpercentage points to 2.1% for the year closing in \u200bMarch. Economists had anticipated\u200c a \u2063rise to 2.2%,\u200b making the actual increase slightly lower. Meanwhile, \u200ccore inflation, excluding food and energy \u2064prices, rose more than expected to \u200b2.4%. This surge in prices comes after a recent jump in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/manchin-every-senator-thinks-minimum-wage-should-be-increased\/\" title=\"Manchin: Every Senator Thinks Minimum Wage Should Be Increased\">consumer price index<\/a> to 3.5%. Chief economist \u2062Chris Rupkey highlighted that while inflation is a concern,\u200b immediate rate hikes by the Federal Reserve \u2064may \u2063not be necessary.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/tag\/inflation\" target=\"_blank\" rel=\"noreferrer noopener\">Inflation<\/a>,\u00a0as measured by the producer <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/prices\" target=\"_blank\" rel=\"noreferrer noopener\">price<\/a> index, rose 0.6 percentage points to 2.1% for the year ending in March, the Bureau of Labor Statistics reported on Thursday, adding to recent data indicating that the Federal Reserve may have to do more to curb price pressures.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/tag\/economy\" target=\"_blank\" rel=\"noreferrer noopener\">Economists<\/a> had forecast annual wholesale\u00a0inflation\u00a0would rise to 2.2%, so the increase was a bit less than anticipated.<\/p>\n<p>On a month-to-month basis, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/used-car-prices-unexpectedly-surge-higher\/\" title=\"Used Car Prices Unexpectedly Surge Higher\">wholesale price index<\/a> was running at 0.2%, slightly less than expected.<\/p>\n<p>Meanwhile, \u201ccore inflation,\u201d which strips out volatile food and energy prices, rose 0.3 percentage points, slightly more than expected, to 2.4% in the year ending in March. <\/p>\n<p>The report comes one day after the even more closely watched consumer price index report showed that inflation accelerated faster than expected.<\/p>\n<p>CPI inflation rose to 3.5% for the year ending in March, the Bureau of Labor Statistics reported on Wednesday.<\/p>\n<p>\u201cInflation isn\u2019t any hotter than it was after yesterday\u2019s shock, and the year-to-year increases are barely registering at 2.1% for final demand producer prices,\u201d said Chris Rupkey, chief economist at FWDBONDS. \u201cIt is difficult to know what the proper course for the Fed\u2019s interest rate policy is right now, but certainly, the need to restart its rate hikes, paused since last July, does not seem to be necessary at this juncture.\u201d<\/p>\n<p>The signs that inflation may not be falling as hoped are bad news for President Joe Biden because the White House has been emphasizing any declines in inflation, alongside the robust labor market, as \u201cBidenomics\u201d in action.<\/p>\n<p>Annual inflation peaked at about 9% in June 2022, and while it is now much lower than it was, price growth is still running higher than the Fed\u2019s preferred 2% level. The past few months have not seen the rapid disinflation economists hoped for at the start of the year.<\/p>\n<p>Housing and energy prices have been the major culprits in pushing up consumer inflation and have made it more difficult for the Fed to consider cutting its interest rate target. The timing of a future rate cut has been a moving target that keeps getting pushed back further into 2024.<\/p>\n<p>At the end of last year, most Fed watchers thought the Fed would have already cut rates by now, but as 2024 inches along, some are saying there is a possibility of no interest rate cuts \u2014 a scary scenario for Biden in an election year.<\/p>\n<p>Federal Reserve Bank of Minneapolis President Neel Kashkari, one of the voting members of the Federal Open Market Committee, acknowledged that the Fed <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/2954240\/key-fed-official-raises-possibility-that-interest-rates-wont-be-cut-in-2024\/\" target=\"_blank\" rel=\"noopener\" title>might not cut interest rates<\/a> this year as inflation remains sticky. That possibility clashes with investors and even the Fed, which is predicting coming rate revisions.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>Still, the Fed has some leeway, given the country\u2019s strong labor market and robust GDP growth.<\/p>\n<p>The economy added 303,000 jobs in March, a number that exceeded expectations. Economists had forecast about 212,000 new payroll jobs, adjusted for seasonal variation.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In March, the Bureau of Labor Statistics reported that inflation, measured by the producer price index, increased by 0.6 percentage points to reach 2.1% for the year. This rise, although slightly below economists&#8217; forecasts of 2.2%, signals potential challenges for the Federal Reserve in managing price pressures<\/p>\n","protected":false},"author":2683,"featured_media":2218222,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/02\/iStock-521811679-1024x683.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2218221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/02\/iStock-521811679-1024x683.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2218221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2683"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2218221"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2218221\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2218222"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2218221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2218221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2218221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}