Statement from Press Secretary Karine Jean-Pierre on the March Producer Price Index
Today’s report is further evidence that we are making progress bringing inflation down. The annual inflation rate for producers is 2.7 percent — the lowest rate in more than two years. On average, prices set by businesses actually fell last month. This follows yesterday’s news that inflation for consumers is down substantially from its peak last summer. There is more work to do, but this is important progress for our economy and for American families.