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Healthcare, food boost U.S. producer prices in March

Reuters  |  WASHINGTON 

By Lucia MutikaniWASHINGTON (Reuters) - U.S. producer prices increased more than expected in March, boosted by rising healthcare and food costs, pointing to a steady buildup of inflation pressures.Most economists believe that strengthening inflation will prompt the Federal Reserve to raise interest rates three more times this year. The U.S. central bank increased borrowing costs last month and forecast at least two more rate hikes in 2018. Producer prices have risen solidly since January, largely driven by the services components. Economists expect these increases to spill over into the ...

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First Published: Tue, April 10 2018. 21:30 IST