U.S. producer prices rose more than expected in March, according to official data released on Thursday.
The Labor Department said its producer price index (PPI) increased 0.3% last month, while the core PPI, which excludes food and energy costs, rose 0.6%.
In the 12 months through February, the growth was 2.2% and 2.4%, respectively.
The Fed watches this data because higher costs for producers often lead to them passing that cost on to consumers, placing upward pressure on inflation.
Source : Investing.com