Economic data from March is coming in, including the producer price index and wholesale prices. With all that's going on with energy prices, these numbers are pretty good.
First, on Fox Business, Maria Bartiromo discussed the producer price index.
.@MariaBartiromo on the March producer price index: "These are fantastic numbers... these numbers are much better than expected." pic.twitter.com/QaFEoOUKW9
— Rapid Response 47 (@RapidResponse47) April 14, 2026
Maria Bartiromo said:
These are fantastic numbers, Cheryl. Look at this report, because what we're seeing is that it has not trickled down fully to the producer. Which is good news, because maybe they're not going to pass it on to the consumer for the next report. But great reporting, we got a rally on stocks, these numbers are much better than expected.
Next, CNBC brings some numbers:
- The producer price index, a gauge of pipeline costs for final demand goods and services, increased a seasonally adjusted 0.5% for the month, well below the Dow Jones consensus estimate for 1.1%.
- Excluding food and energy, core PPI was up just 0.1% against the forecast for 0.5%.
- On an annual basis, the all-items PPI accelerated 4%, the biggest 12-month gain since February 2023. The core PPI posted a 3.8% annual gain.
Better than expected, but they could be better still. As we might expect, rising energy costs due to the ongoing Operation Epic Fury/Roaring Lion may well be part of the reason that PPI has tipped up some. But the rise is still better than initial predictions indicated.
The producer price index, a gauge of pipeline costs for final demand goods and services, increased a seasonally adjusted 0.5% for the month, well below the Dow Jones consensus estimate for 1.1%, according to a Bureau of Labor Statistics report Tuesday.
Excluding food and energy, core PPI was up just 0.1% against the forecast for 0.5%. The services side of inflation — a key focus for Federal Reserve policymakers — was flat on the month.
On an annual basis, the all-items PPI accelerated 4%, the biggest 12-month gain since February 2023. Core PPI posted a 3.8% annual gain. Excluding food, energy and trade services, PPI increased 0.2% monthly and 3.6% annually. Trade services slipped 0.3% for the month, an indicator that businesses are absorbing tariff costs.
Fuel prices appear to be the primary drivers in the acceleration of the PPI.
As expected, energy was the primary culprit in the PPI gain. The gasoline index surged 15.7%, accounting for about half the gain in the PPI, according to the BLS. Diesel prices alone soared 42% while jet fuel was up 30.7%.
Gasoline and diesel prices are up, and that has an inflationary effect on everything - every good, every service, everything.
Read More: Consumer Prices Reportedly Rose in March Over Soaring Energy Costs, but It's Mostly Good News
What Will Democrats Complain About Now? Core Inflation Number Brings Very Good News
Something of a mixed bag, but - and now we're going into a bit of speculation - the current spate of crude-oil tankers headed to American ports to fill up will have some effect that's yet to be seen. America is at least partially filling the gap caused by Iran's threatening shipping in the Strait of Hormuz, and that may ease back on energy prices somewhat when all that oil gets into the global distribution network. We'll see.
Editor’s Note: The 2026 Midterms will determine the fate of President Trump’s America First agenda. Republicans must maintain control of both chambers of Congress.
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