Inflation is Far From Cooling Off: US Producer Prices Jump by Most on Record
Following yesterday’s scorching-hot CPI print, the latest data from the BLS shows that US producer prices exploded by the most on record in March, in yet another testament that the inflation peak is still very, very far away.
The producer price index, which tracks prices paid by wholesalers and serves as an indicator of future inflationary pressures, was up 1.4% from February to March, and jumped by 11.2% from one year ago— the sharpest increase since the BLS began keeping records of the gauge over 20 years ago.
Core PPI, which strips out volatile components such as food, energy, and trade services, rose 0.9% month-over-month— almost double the consensus forecast of 0.5%, and was up 7% from March 2021. The latest figures mark the 23rd consecutive month of increases in producer prices, with broad gains across nearly all categories.
Information for this briefing was found via the BLS. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
