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发帖数: 536 | 1 PPI (YoY): 11.2% (forecast: 10.6%, previous 10.3% )
PPI (MoM): 1.4% (forecast: 1.1%, previous 0.9%)
PPI Core (YoY): 9.2% (forecast 8.4%, previous 8.7%)
PPI Core (MoM): 1% (forecast 0.5%, previous 0.4%)
Producer prices rose 11.2% from a year ago in March, the biggest gain on
record
PUBLISHED WED, APR 13 20228:32 AM EDTUPDATED 12 MIN AGO
The producer price index, which measures prices paid by wholesalers, rose 1.
4% in March and 11.2% from a year ago, both records for data going back to
2010.
Prices for final demand goods led with a 2.3% monthly rise, while services
prices gained 0.9%.
Wednesday’s release comes the day after the BLS reported that the consumer
price index for March surged 8.5% over the past year.
The prices that goods and services producers receive rose in March at the
fastest pace since records have been kept, the Bureau of Labor Statistics
reported Wednesday.
The producer price index, which measures the prices paid by wholesalers,
increased 11.2% from a year ago, the most in a data series going back to
November 2010. On a monthly basis, the gauge increased 1.4%, above the 1.1%
Dow Jones estimate and also a new record.
Stripping out food, energy and trade services, so-called core PPI rose 0.9%
on a monthly basis, nearly double the 0.5% estimate and the biggest monthly
gain since January 2021. Core PPI increased 7% on a year-over-year basis.
PPI is considered a forward-looking inflation measure as it tracks prices in
the pipeline for goods and services that eventually reach consumers.
Wednesday’s release comes the day after the BLS reported that the consumer
price index for March surged 8.5% over the past year, above expectations and
the highest reading since December 1981.
On the producer side, prices for final demand goods led with a 2.3% monthly
rise, while services prices gained 0.9%, up sharply from the 0.3% February
increase. Goods inflation has outstripped services during the Covid pandemic
, but March’s numbers indicate that services are now catching up as
consumer demand shifts.
Energy prices were the biggest gainer for the month, rising 5.7%, while food
costs increased 2.4%.
Swelling inflation has prompted the Federal Reserve to begin tightening
monetary policy.
In March, the Fed increased its benchmark short-term borrowing rate by 0.25
percentage points as the first step in what is expected to be a series of
hikes through the year. Markets are pricing in an almost certainty that the
central bank will double that move at its May meeting, and will keep going
until the fed funds rate hits about 2.5% by the end of the year. |
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