U.S. producer prices unexpectedly fell in March as rising energy prices were offset by a decline in the cost of services, pointing to tame inflation that supports the Federal Reserve’s cautious approach to raising interest rates.
The Labor Department said on Wednesday its producer price index slipped 0.1 percent last month after dropping 0.2 percent in February. In the 12 months through March, the PPI dipped 0.1 percent after being unchanged in February.
