U.S. Producer Prices Unexpectedly Decreased In March

On the heels of yesterday’s report showing a surprise dip by U.S. consumer prices, the Labor Department released a separate report on Friday showing U.S. producer prices also unexpectedly decreased in the month of March.

The Labor Department said its producer price index for final demand fell by 0.4 percent in March after inching up by a revised 0.1 percent in February.

Economists had expected producer prices to rise by 0.2 percent compared to the unchanged reading originally reported for the previous month.

The report also showed the annual rate of producer price growth slowed to 2.7 percent in March from 3.2 percent in February. The annual rate of price growth was expected to creep up to 3.3 percent.

At 9 am ET, Boston Federal Reserve President Susan Collins is scheduled is to be interviewed on “Yahoo! Finance.”

The University of Michigan is due to release its preliminary reading on consumer sentiment in the month of April at 10 am ET. The consumer sentiment index is expected to fall to 54.5 in April after plunging to 57.0 in March.

Also at 10 am ET, St. Louis Federal Reserve President Alberto Musalem is scheduled speak on the U.S. economy and monetary policy and participate in a moderated conversation before the Arkansas State Bank Department’s 29th Annual Day with the Commissioner.

New York Federal Reserve President John Williams is due to speak on the economic outlook and monetary policy before the Puerto Rico Chamber of Commerce at 11 am ET.