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Wholesale Inflation Surprise

March 18, 2024


Fork Lift with Stock indicator rising

The producer price index (PPI) increased by 0.6%, the largest increase since September.  Also known as wholesale inflation, the February reading was double that of most estimates.  The surprise jump indicates that price pressures continue and are difficult to forecast. PPI measures pipeline costs for raw, intermediate and finished goods.

The PPI is the last major piece of economic data that the Federal Reserve will receive prior to this week’s meeting on interest rates.