Producer Price Index Jumps 1.1%

Prices paid to U.S. producers jumped 1.1% in March, reflecting higher fuel and food costs, the Labor Department said Tuesday.

The monthly gain for the producer price index followed a 0.3% gain in January.

The March gain was well above economists’ forecasts of a 0.6% increase, Bloomberg reported.

The so-called core PPI excluding food and energy rose 0.2%.

An increase in the PPI could indicate strong demand for goods, which would mean more shipments for trucking companies. However, if inflation begins to accelerate too quickly, it could also hurt the economy.