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The Biden Administration insists the economy is in good shape. The numbers continue to tell a different story.
Wholesale inflation rose 0.2% in March from the previous month. On an annual basis, prices remain up 2.1%, the largest yearly advance since April 2023.
This is the latest sign that price pressures within the economy remain high and difficult to get under control.
In another sign that points to the stickiness of high inflation, core prices — which exclude the more volatile measurements of food and energy — rose 0.2% for the month. That is in line with estimates, although it is below the 0.3% reading recorded last month.
Both releases are considered to be important measurements of inflation, with the PPI believed to be a leading indicator of inflationary pressures as costs work their way down to consumers.