The Bureau of Labour Statistics just released its latest producer price index report, and it looks like inflation is a little hotter than expected.
PPI jumped by 0.5% in March, which was much higher than the 0.1% expected.
Excluding food and energy, prices jumped 0.6% versus expectations for a 0.2% gain.
On a year-over-year basis, prices climbed 1.4%. The expectation was for 1.1%.
Here’s a chart from the BLS for some historical context: