On the 11th (local time), according to the U.S. Bureau of Labor Statistics, the Producer Price Index (PPI) in the United States for March fell by 0.4% compared to the previous month. Compared to the same month last year, it rose by 2.7%.
This was far below the market expectation of a 0.2% increase from the previous month. Prices of energy (-4.0%) and food (-2.1%) declined, pulling down the PPI. However, the core PPI, excluding food and energy, rose by 0.3%.
The March PPI serves as an indicator before the implementation of President Donald Trump's reciprocal tariff policy, and it is expected that the impact of the tariff war will be reflected starting from the April PPI.
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