WASHINGTON (dpa-AFX) - A report released by the Labor Department on Thursday showed a spike in energy prices contributed to a bigger than expected increase in U.S. producer prices in the month of March.
The Labor Department said is producer price index for final demand climbed by 0.6 percent in March after inching up by 0.1 percent in February. Economists had expected prices to rise by 0.3 percent.
Core producer prices, which exclude food and energy prices, also rose by 0.3 percent in March following a 0.1 percent uptick in February. Core prices had been expected to edge up by 0.2 percent.
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