U.S. March PPI climbs to two-year high, undershoots forecasts

U.S. producer inflation accelerated in March, with the Producer Price Index (PPI) rising 4.0% year over year, the highest reading in two years. The print still fell short of the 4.7% consensus estimate. On a monthly basis, PPI increased 0.5%, easing from expectations for a 1.1% jump.