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☆ A graffiti ‘takeover’ roils downtown Los Angeles
▼ + stars: | 2024-04-10 | by ( Leda Abkenari | Leda Joy Abkenari | ) edition.cnn.com time to read: +9 min

CNN —Climbing up abandoned, unfinished floors and tightrope walking across balcony ledges, backpacks clanging with cans of alkyd and acrylic, a collective of Los Angeles graffiti artists have transformed their craft beyond urban aesthetics to champion community issues. (The Los Angeles City Attorney confirmed to CNN that, as of April 3, criminal charges have been filed against 23 individuals, for violations including trespassing and possession of vandalism tools.) ENDEM's tag, pictured here adorning the walls of the 3rd Street tunnel in Downtown Los Angeles. And as a result of that, they’re on the streets,” Hutchinson told CNN, noting that the homeless population in Los Angeles is continuing to grow. (“This has strained our deployment,” LAPD Chief Michel Moore said during a February meeting of the Los Angeles City Council.

Persons: tagger ENDEM, “, Keith Haring, Banksy, Endem, ENDEM, ” ENDEM, Oceanwide, ” Roger Gastman, Roger Gastman, Earl Ofari Hutchinson, “ You’ve, ” Hutchinson, Hutchinson, Mario Tama, Michel Moore, ”, Blair Besten, ” Besten, Gastman, — we’re, We’re, it’s, ” Gastman, It’s Organizations: CNN, Oceanwide Holdings, Los Angeles City Attorney, Oceanside, Los Angeles Urban Policy, Los Angeles Housing Services Authority, LA, Plaza, LAPD, Los Angeles City Council, Downtown, Oceanwide Locations: Angeles, Downtown LA, Germany, New York City, Downtown Los Angeles, Oceanside, LA, Los Angeles

☆ A Massachusetts city is giving families at risk of losing their homes $750 a month, no strings attached
▼ + stars: | 2024-04-02 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

Read previewA Massachusetts city is giving low-income families $750 a month, no strings attached. The guaranteed basic income program will focus on residents who are in danger of losing their homes. The Somerville GBI Pilot will serve about 200 low-income families currently experiencing housing insecurity. Related stories"My life was always just a couple hundred dollars short," a participant in San Antonio's income program told BI. St. Louis, Missouri recently distributed $500 monthly payments to low-income families, and Flint, Michigan is offering funds to new mothers.

Persons: —, Boston —, Somerville, Katjana Ballantyne, Ballantyne, Joe Biden's, hasn't, John Gillette Organizations: Service, Somerville, Business, Greater Boston Area, Boston, ARPA, The University of Massachusetts, Republican Locations: Massachusetts, —, Boston, San Antonio, Austin, Minneapolis, Durham , North Carolina, Denver, Antonio's, City, Somerville, Greater Boston, Arizona , South Dakota , Iowa, Texas, Arizona, Louis , Missouri, Flint , Michigan, Atlanta

☆ I paid just $135,000 for my house when homes in the area are going for twice that. Here's how.
▼ + stars: | 2024-03-31 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +8 min

The couple paid less than usual for the area by going through a community land trust, or CLT. Community land trusts allow low-income homebuyers to purchase homes at a reduced price in exchange for the trust's retaining ownership of the property's land. Community land trusts were an unfamiliar conceptI learned about community land trusts while driving through a neighborhood. It's a community housing organization that offers homebuyer education and also sells affordable homes through a community land trust program. Our lives are much betterWhen buying a land trust home, not only do you have to qualify for the land trust program, but you also have to qualify for a mortgage at the bank.

Persons: Melisa Gomez, Romo, —, It's, Gomez, we're Organizations: Service, Romo, Land Trust Locations: Duluth , Minnesota, Minnesotans, Duluth, Fayetteville , Arkansas, . Duluth, El Salvador, Mexican

☆ Now comes the hard part for the Fed to achieve its goal of getting inflation to 2%
▼ + stars: | 2024-03-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Core services costs excluding housing services — "supercore" inflation, as it has become known — remain elevated but at least the pace of increase, at 0.5%, has eased. "The 'last mile' problem for the central bank is the inflation in service prices, which is partly attributed to the tight labor market in sectors such as healthcare, leisure, hospitality, and construction. "This type of inflation, often termed 'cost-push inflation,' may not react straightforwardly to changes in interest rates." "Wage growth was significantly slower, the labor market wasn't as tight," PNC's Faucher said. "It wasn't that long ago, but it was a different economy than it is now, with some of those [current] post-pandemic effects of the tight housing market and the tight labor market."

Persons: Gus Faucher, Dow Jones, Sung Won Sohn, PNC's Faucher, Faucher, JPMorgan Chase, Jamie Dimon, That's Organizations: Federal, PNC Financial Services, CPI, Bureau of Labor Statistics, Loyola Marymount University, SS Economics, Fed, JPMorgan, Monday

☆ A fight over sewage is preventing Long Island from solving its crippling housing crisis
▼ + stars: | 2024-02-14 | by ( Eliza Relman | ) www.businessinsider.com time to read: +9 min

The people of Suffolk County, Long Island, need to start considering it. Like most of the suburbs surrounding New York City, Suffolk County is suffering from a major shortage of homes. In December, New York Governor Kathy Hochul announced she'll send $59 million to Long Island to deal with water contamination and sewer upgrades. “The governor has said she wants to see more housing on Long Island. Last year, Long Island public officials led the charge against Gov.

Persons: —, Hunter Gross, “, ” Gross, Long, Suffolk County’s, Ed Romaine, Kathy Hochul, you’ve, ”, Joe, Edmund Smyth, ” Smyth, ” Long, Kathy Hochul’s, who’ve, boomers, can’t, that's, Ian Wilder, Nathan Cummings, ” Cummings, Cummings Organizations: Service, Hamptons, Business, Newsday, Republican, ” Long Islanders, Gov, New, Housing Services, Yale Law Locations: Suffolk County, Long, New York City, Huntington, Suffolk, New York, Huntington , Suffolk County, Levittown, Black, Old Lyme , Connecticut

☆ Fentanyl crisis in Oregon: 90-day state of emergency declared in downtown Portland
▼ + stars: | 2024-01-31 | by ( Amy Simonson | Lauren Mascarenhas | ) edition.cnn.com time to read: +2 min

CNN —Oregon leaders joined forces to declare a 90-day state of emergency in downtown Portland, funneling resources into the city’s deadly fentanyl crisis. Oregon voters passed Measure 110 in 2020, which decriminalized some use of hard-drugs, including fentanyl, a potent synthetic opioid. The measure has received criticism, as opioid overdose deaths steadily climbed since. Opioid overdose deaths in the state increased from 280 in 2019 to 956 in 2022, according to the state’s data. Experts say reversing the trends in overdose deaths really depends on broader access to and use of treatments for opioid use disorder.

Persons: Tina Kotek, Jessica Vega Pederson, Portland Mayor Ted Wheeler, ” Kotek, ”, “, ” Pederson Organizations: CNN, Oregon, Oregon Gov, Portland Mayor, US Centers of Disease Control, CDC, Portland Central City Task Force, Portland Police Bureau, Oregon State Police Locations: Portland, Multnomah, Portland’s Central City, Oregon

"Monetary policy is in a good place for policymakers to assess incoming information on the economy and financial conditions," Cleveland Fed President Loretta Mester said on Wednesday. The Fed has kept its policy rate unchanged in the 5.25%-5.50% range since July, and after the last meeting over Oct. 31-Nov. 1, Fed Chair Jerome Powell said he is not yet confident policy is restrictive enough. Fed Governor Christopher Waller, a policy hawk like Mester, on Tuesday delivered a similar assessment. Indeed, Waller said, if the inflation decline continues for several more months, rate cuts could be in order to keep policy from becoming overly tight. Atlanta Fed President Raphael Bostic, who has for months said the Fed policy rate at 5.25%-5.50% is high enough, said Wednesday he feels data backing that view is getting clearer.

Persons: Sarah Silbiger, Loretta Mester, Mester, Jerome Powell, Christopher Waller, Waller, I'm, Thomas Barkin, Barkin, Raphael Bostic, we’ve, Lindsay Dunsmuir, Deepa Babington Organizations: El Progreso Market, Washington , D.C, REUTERS, Cleveland Fed, Richmond Fed, CNBC, Dallas Fed, Reuters, Atlanta Fed, Thomson Locations: El Progreso, Mount Pleasant, Washington ,

☆ US retail sales fell in October for the first time in seven months
▼ + stars: | 2023-11-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Americans cut their retail spending in October for the first time since March, with interest rates at a 22-year high. Retail sales, which are adjusted for seasonality but not inflation, fell 0.1% in October from the prior month, the Commerce Department reported Wednesday. October’s decline in retail spending is potentially an early sign of a slowing economy as US consumers get squeezed by higher borrowing costs and they continue to rack up credit card debt. Car sales fell 1.1% in October from September, while furniture sales declined 2% during the same period. Wednesday’s retail sales report bodes well for the Fed, since it shows spending isn’t reaccelerating or remaining stubbornly strong.

Persons: Jerome Powell, ”, Kathy Bostjancic, Austan Goolsbee, market’s, ” Goolsbee Organizations: DC CNN, Commerce Department, Federal, Nationwide, Reserve, of Labor Statistics, Chicago Fed, Detroit Economic Locations: Washington

☆ David Tepper's Appaloosa raised its exposure to several big tech names — but not the most famous one
▼ + stars: | 2023-11-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Appaloosa Management's David Tepper upped his stake in a handful of big technology names in the latest quarter — with one notable exception, regulatory fillings show. Broadcom , Cadence Design and Marvell Technology were among other stocks that Appaloosa zeroed out in the quarter. KE was Appaloosa's only new holding in the latest quarter, but amounted to just a $37 million position. In fact, Tepper's top five holdings are all mega-cap tech names, according to InsiderScore. The Pitt and Carnegie Mellon grad raised his Meta and Microsoft holdings even more, each one almost a third larger by quarter's end.

Persons: David Tepper, Tepper Organizations: Meta, Microsoft, Nvidia, Securities and Exchange Commission, Apple, Broadcom, Cadence Design, Marvell Technology, Carolina Panthers football, Baidu, Holdings, American, Pittsburgh, Pitt, Carnegie Mellon grad Locations: China, Beijing

☆ US consumer spending exits third quarter on strong note; monthly core inflation rises
▼ + stars: | 2023-10-27 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Excluding the volatile food and energy components, the PCE price index rose 0.3%, after edging up 0.1% in August. The so-called core PCE price index rose 3.7% on a year-on-year basis in September, the smallest gain since May 2021, after increasing 3.8% in August. Stripping out housing, the core PCE price index rose by a mild 0.2%. The super core PCE price index advanced 4.3% year-on-year in September. Policymakers are watching the super core PCE price index to try and gauge their progress in combating inflation.

Persons: Bing Guan, Sal Guatieri, James Knightley, Chris Low, Pooja Sriram, Lucia Mutikani, Chizu Organizations: REUTERS, Commerce Department, Federal, BMO Capital Markets, Commerce Department's, Economic, Reuters, Consumer, ING, FHN, Treasury, Fed, Barclays, Thomson Locations: SoHo, New York City, U.S, WASHINGTON, Toronto, New York

☆ Gasoline, food drive US producer prices higher; core inflation cools
▼ + stars: | 2023-10-11 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The so-called core PPI increased 2.8% on a year-on-year basis in September after climbing 2.9% in August. Wholesale goods prices increased 0.9%, with a 3.3% rise in the cost of energy products accounting for nearly three-quarters of the increase. Excluding the volatile food and energy components, core goods prices edged up 0.1% for the second straight month. This mostly reflected the normalization of supply chains, whose disruption fueled goods inflation in the aftermath of the COVID-19 pandemic. Though core inflation is cooling, higher gasoline and food prices could hamper progress by raising the cost of other goods as well as causing consumers to expect inflation to rise.

Persons: Sarah Silbiger, Christopher Rupkey, Will Compernolle, Alex McGrath, Lucia Mutikani, Chizu Nomiyama, Paul Simao Organizations: El Progreso Market, Washington , D.C, REUTERS, Labor Department, Federal Reserve, Treasury, Reuters, PPI, Reuters Graphics, Trade, Fed, Thomson Locations: Mount Pleasant, Washington ,, WASHINGTON, New York, East, Greenville , South Carolina

☆ Stock market undergoing long period of consolidation, says Gilman Hill's Jenny Harrington
▼ + stars: | 2023-09-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStock market undergoing long period of consolidation, says Gilman Hill's Jenny HarringtonJoe Terranova, Jenny Harrington, Jason Snipe, and Jim Lebenthal, join 'Halftime Report' to discuss S&P September data, durable goods numbers indicating a strong economy, and non-housing services inflation staying stubbornly high.

Persons: Gilman, Jenny Harrington Joe Terranova, Jenny Harrington, Jason Snipe, Jim Lebenthal Organizations: Email

REUTERS/Joshua Roberts Acquire Licensing RightsSept 25 (Reuters) - It's a now-familiar dance: Federal Reserve officials signal to the world that interest rates are not dropping anytime soon. Forecasts published on Wednesday by the U.S. central bank showed that a majority of its policymakers see the Fed's benchmark overnight interest rate ending this year at 5.6%, which implies one more interest rate hike in the next three months. They also now anticipate an end-of-2024 policy rate of at least 5.1%, half a percentage point higher than they projected three months ago. Meanwhile, interest rate futures contracts continue to price in only about a 50% chance of further tightening in 2023, and see a 4.65% policy rate by the end of next year. THE FED'S OWN UNCERTAIN FORECASTSFed policymakers plan to stop raising interest rates once they are convinced inflation is headed down to the central bank's 2% target.

Persons: Joshua Roberts, Preston Caldwell, Jerome Powell, Powell, Morgan Stanley, Ann Saphir, Dan Burns, Paul Simao Organizations: Federal Reserve, REUTERS, Financial, U.S, Fed, Morningstar, Securities, United Auto Workers, Detroit automakers, Reuters, Thomson Locations: Washington , U.S, U.S

☆ Instacart clarifies its Snowflake payments in updated IPO prospectus after clash with Databricks
▼ + stars: | 2023-09-11 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

Instacart filed an updated IPO prospectus Monday and clarified how its contract works with data storage and analytics company Snowflake , after the initial filing appeared to show a dramatic decline in spending on Snowflake's technology. The apparent slippage led to confusion and spurred employees at rival Databricks to suggest online that it was picking up that business. "These cash payments, including the payments we made in 2022, generally represent prepayments for future services which, in many cases, span multiple fiscal periods," Instacart wrote. For both 2021 and 2022, Instacart said it incurred operating expenses tied to the cloud technology of $28 million. Instacart isn't required to disclose its relationship with Databricks, but both companies published recent posts about the implementation on their websites.

Persons: Instacart, Snowflake, Frank Slootman, Databricks, it's Locations: Databricks

☆ Instacart's IPO filing sparked an online spat between cloud rivals Snowflake and Databricks
▼ + stars: | 2023-09-02 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

One of Instacart's board members is Frank Slootman, the CEO of Snowflake , a publicly traded company that helps businesses store and manage hefty workloads in the cloud. Slootman joined Instacart's board in 2021 and, because of that relationship, the company has to disclose its business ties to Snowflake. In May, the company published a blog post titled "How Instacart Ads Modularized Data Pipelines With Lakehouse Architecture and Spark." The post, which described software underpinning Instacart's ads infrastructure, included discussion of a migration to Databricks' Lakehouse technology and the cost savings that followed. Representatives from Instacart, Snowflake and Databricks declined to to comment.

Persons: Frank Slootman, Slootman, Instacart, Snowflake, Databricks pounced, Databricks, You've Organizations: Inc, New York Stock Exchange, Employees, Twitter Locations: Snowflake, Instacart

☆ Fed's Bostic says U.S. interest rates are high enough
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +3 min

U.S. Atlanta Federal Reserve Bank President Raphael Bostic speaks to reporters at the National Association of Business Economics' annual policy meeting in Washington, U.S. March 21, 2022. "I feel policy is appropriately restrictive," Bostic said in remarks prepared for delivery to the South African Reserve Bank Biennial Conference in Cape Town, South Africa. "We should be cautious and patient and let the restrictive policy continue to influence the economy, lest we risk tightening too much and inflicting unnecessary economic pain." U.S. central bankers are widely expected to leave the Fed's policy rate in the current range of 5.25%-5.5% when they next meet in a little less than three weeks. Bostic has been in the minority at the Fed, cautioning against over-tightening policy and needlessly hurting jobs and livelihoods.

Persons: Raphael Bostic, Ann Saphir, Bostic, Bostic's, Richard Chang Organizations: Atlanta Federal Reserve Bank, National Association of Business Economics, REUTERS, South African Reserve Bank Biennial, U.S, Thomson Locations: Washington , U.S, Cape Town , South Africa, U.S

☆ Fed Chair Powell calls inflation 'too high' and warns that 'we are prepared to raise rates further'
▼ + stars: | 2023-08-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

watch nowFederal Reserve Chair Jerome Powell on Friday called for more vigilance in the fight against inflation, warning that additional interest rate increases could be yet to come. Regardless, Powell indicated it's too soon to declare victory, even with data this summer running largely in the Fed's favor. A need to 'proceed carefully'Powell's remarks follow a series of 11 interest rate hikes that have pushed the Fed's key interest rate to a target range of 5.25%-5.5%, the highest level in more than 22 years. He noted progress on all three, but said nonhousing is the most difficult to gauge as it is the least sensitive to interest rate adjustments. Inflation measured over the past three and six months has declined, however, which is encouraging," Powell said.

Persons: Jerome Powell, Powell, Jackson, it's, Ryan Detrick, Jack McIntyre, nonhousing Organizations: Kansas City, Fed, Bureau of Labor Statistics, Dow Jones, Carson Group, Federal, Market, Brandywine, Commerce Department, Labor Locations: Jackson Hole , Wyoming, policymaking

☆ US inflation cooled in June for the 12th straight month
▼ + stars: | 2023-07-12 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

US annual inflation slowed to 3% last month, according to the latest Consumer Price Index released Wednesday by the Bureau of Labor Statistics. The June annual rate is down from 4% in May and landed slightly below economists’ expectations for a 3.1% increase, according to Refinitiv. Starting in March 2022, the central bank rolled out 10 consecutive interest rate hikes to tame inflation, finally hitting pause last month. And June of last year was monumental: Annual inflation soared to 9.1%, the highest in more than 40 years largely because of record-high energy costs. So the Fed and economists have been keyed in on what’s happening with core inflation, particularly core services.

Persons: Olivia Newton, ” William Ferguson, “, Joe Biden, ” Sung Won Sohn, Lael Brainard, ” Brainard, Brainard, ” Julia Pollak, ZipRecruiter, Sohn, ”, —, Nicole Goodkind Organizations: Minneapolis CNN, Bureau of Labor Statistics, CPI, Grinnell College, CNN, Federal Reserve, Loyola Marymount University, SS Economics, Core PCE, National Economic Council, Economic, of New, BLS, Kansas City Fed Locations: Minneapolis, Iowa, of New York

☆ Investors are losing hope for a Fed pause and bracing for another interest-rate hike instead. Here's what 8 experts have predicted.
▼ + stars: | 2023-05-31 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +6 min

Investors are losing hope that the Federal Reserve will pause its interest-rate hikes in June. For example, several market experts have warned the commercial real estate industry is at risk if the Fed keeps raising borrowing costs. "But I do think it's possible they're going to raise a little more. Ed Yardeni, market veteran"The market has been remarkably resilient, mostly because the economy has been remarkably resilient," Yardeni said in a CNBC interview. "So I think they're where they want to be – and I think they're going to keep it here."

Persons: They're, —, Mohamed El, David Solomon, Goldman Sachs, Solomon, It's, Jamie Dimon, Dimon, Ed Yardeni, Yardeni, Doom, Roubini, Mark Zandi, Zandi, Mark Nash, Nash Organizations: Federal, Service, Bank, Signature Bank, First Republic, Fed, Erian, Allianz, CNBC's, JPMorgan, CNBC, Bloomberg, NYU Stern, Jupiter Asset Management

☆ The Fed’s favorite inflation gauge just heated up — and that could mean another rate hike
▼ + stars: | 2023-05-26 | by ( Alicia Wallace | ) edition.cnn.com time to read: +6 min

The closely watched core PCE index — where volatile components of food and energy are excluded — unexpectedly ticked up: The Fed’s go-to gauge was up 4.7% for the year. In March, the core PCE gauge grew by 4.6%. Economists had forecast that core PCE would hold steady at 4.6%, according to Refinitiv. Consumer spending jumped 0.8% in April from March, double what economists had expected. Excluding the effects of inflation, real consumer spending increased 0.5%, reflecting a boost seen from new car purchases, according to the report.

☆ Republicans dismiss fears that their debt ceiling bill would make the housing crisis worse for 1 million families as 'scaremongering'
▼ + stars: | 2023-05-07 | by ( Eliza Relman | ) www.businessinsider.com time to read: +6 min

House Republicans' debt ceiling bill would cut significant funding from federal housing services. HUD Secretary Marcia Fudge said the agency would suffer "the most devastating impacts in HUD's history" if the funding cuts in the bill are made law. He went on, "It's being positioned as congressional Republicans are heartless because they want to pass these spending cuts. "The House bill reduces spending to the levels we had in 2022. The last I checked, 2022 was not a horrid apocalypse sweeping across our country," Cruz told Insider on Wednesday.

☆ Watch Fed Chief Jerome Powell speak after central bank raises interest rates for a 10th time
▼ + stars: | 2023-05-03 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: 1 min

If Federal Reserve members are correct, it may take some time for rate cuts to seem plausible, said Chair Jerome Powell. "We on the committee have a view that inflation is going to come down not so quickly," he said. "It will take some time, and in that world, if that forecast is broadly right, it would not be appropriate to cut rates and we won't cut rates." He added that demand and labor market conditions will likely need to weaken some more to see progress within non-housing services and deem rate cuts "appropriate." — Samantha Subin

☆ FOMC: Takeaways from the Federal Reserve's May meeting
▼ + stars: | 2023-05-03 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

This time around, the central bank’s meeting occurred two days after First Republic Bank failed. “Conditions in the sector have broadly improved since early March, and the US banking system is sound and resilient,” he said. “These tighter credit conditions are likely to weigh on economic activity, hiring and inflation,” Powell said. “The extent of these effects remains uncertain.”A key federal report on lending conditions, the Senior Loan Officer Opinion Survey, will come out on May 8, Powell said. “So we’ll be driven by incoming data, meeting by meeting, and we’ll approach that question at the June meeting.”A complicating element in that evaluation will be the amount of credit tightening and to what extent that acts as another interest rate hike, he said.

☆ US labor market gradually losing steam; producer inflation cooling
▼ + stars: | 2023-04-13 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Still, the labor market and inflation are likely not cooling fast enough to stop the Federal Reserve from raising interest rates one more time next month. Claims, however, remain below the 270,000 level, a breach of which economists say would signal a deterioration in the labor market. "The upcoming labor market downturn will be modest since the drop in demand is expected to be fairly modest." InflationThe annual PPI rate is subsiding as last year's large increases drop out of the calculation. In the 12 months through March, the core PPI advanced 3.6% after increasing 4.5% in February.

☆ U.S. producer prices unexpectedly fall in March
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Hannah BeierWASHINGTON, April 13 (Reuters) - U.S. producer prices unexpectedly fell in March as the cost of gasoline declined, and there were signs that underlying producer inflation was subsiding. The annual PPI rate is subsiding as last year's large increases drop out of the calculation. Goods prices fell 0.3% in February. Excluding the volatile food and energy components, core goods prices rose 0.3% after a similar gain in February. Excluding food, energy and trade services components, producer prices gained 0.1% in March.

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