Producer Price Index: Wholesale Inflation Rises to 2.1% in March

Wholesale inflation heated up last month but came in slightly lower than expected. Here is the latest news release from the Bureau of Labor Statistics.

The producer price index for final demand increased 0.2% month-over-month (s.a.), less than the expected 0.3% growth. On a non-seasonally adjusted basis, this month's headline PPI accelerated from 1.6% in February to 2.1% in March, below the forecasted 2.2% growth. This is the highest level since April 2023.

Core PPI (excluding food and energy) for final demand rose 0.2% from last month, as expected. On a non-seasonally adjusted basis, core PPI accelerated from 2.1% year-over-year in February to 2.4% in March, above the forecast of 2.3% growth. This is the highest level since August 2023.

Below is a chart of the historical series with a callout to the most recent 12 months.

PPI - producer price index year over year