By Tom Burnett CFA
On April 13, 2022, the Bureau of Labor Statistics reported the Producer Price Index (“PPI”) for March. The PPI rose 1.4% for the month, following increases of 0.9% in February and 1.2% in January. For the 12 months ended March 2022, the PPI rose 11.2%, the highest figure since the 12-month data were first calculated in November 2010. Energy prices accounted for over half of the total increase in March as gasoline prices rose 5.7% in the month. Food prices rose 2.4% in the month.
The Core PPI, excluding food and energy, rose 0.9% in March and 7.0% for the latest 12-month period.
The next PPI report will be issued on May 12, 2022.
Tom Burnett CFA is Director of Research