If you were worried about all this new money that has been coming into the system and its effects on inflation, you have at least another month (or much longer) before the worries will set in. At least that is if you trust what the Labor Department said about March’s Producer Price Index. The reading for PPI came in at -1.2% on the nominal PPI, and came in 0.0% on the core reading of an ex-food and ex-energy basis. Consensus estimates from economists were only -0.2% on the nominal PPI and +0.1% on the core PPI.
On a year-over-year basis, we saw a reading of -3.5% on the nominal basis and -3.8% on teh core basis of ex-food and ex-energy.
February’s PPI came in at +0.1%, an unrevised level.
Jon C. Ogg
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