The U.S. Commerce Department released the producer price index figures on Tuesday. The U.S. producer price index increased 0.2% in March, in line with expectations, after a 0.5% drop in February. It was the first increase since October 2014.
On a yearly basis, the producer price index decreased 0.8% in March, after a 0.6% fall in February. It was the first decline since 2009.
The rise was driven by higher energy prices which jumped 1.5% in March.
Food prices slid 0.8% in March due to a 5.1% decline in pork prices.
The producer price index excluding food and energy climbed 0.2% in March, exceeding forecasts of a 0.1% increase, after a 0.5% decrease in February.
The increase was driven by a 0.1% gain in final demand services.
On a yearly basis, the producer price index excluding food and energy climbed 0.9% in March, after a 1.0% rise in February.