US producer prices jump at fastest pace in at least a decade in March

Wholesale prices rose at their fastest clip in over a decade last month as energy prices continued to surge.

According to the US Department of Labor, so-called final demand prices jumped at a month-on-month pace of 1.4% (consensus: 1.2%) in March, pushing the annual rate of increase to 11.2% (consensus: 10.6%).

The latter was the biggest jump since records began in 2010.

Energy prices jumped by 5.7%, led by a 20.4% jump in diesel fuel prices, following a 7.5% rise during the previous month and food prices increased by 2.4%.

Total goods prices meanwhile rose by 2.3%.

Final demand prices for goods less food and energy were up by 1.1% on the month (consensus: 0.5%).

Services prices were up by a comparatively tamer 0.9%, led by a 5.5% surge in prices within the transportation and warehousing component.

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