After Unprecedented Delay, BLS Admits Huge Jump In Producer Prices In March

• After Unprecedented Delay, BLS Admits Huge Jump In Producer Prices In March
  by Tyler Durden, https://www.zerohedge.com/
  After China’s factory inflation surprised to the upside with the hottest print since July 2018, this morning’s US producer price data was highly anticipated and expected to surge to multi-year highs. As we detailed earlier, the data’s release was actually delayed – it seems people are actually interested in how much of their dollar’s worth is being eaten away?
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  As a reminder, over half of the inputs for the consumer price index calculation is estimated (translation: made up), so why not PPI too. And when it hit it was dramatically hotter than expected, printing up 1.0% MoM (vs +0.5% exp) and a stunning 4.2% rise YoY (+3.8% exp) – the highest since 2011…
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  This is the 11th month in a row of rising PPI.
  Over one-fourth of the March increase in the index for final demand goods can be traced to an 8.8-percent jump in gasoline prices. The indexes for diesel fuel, residential electric power, industrial chemicals, steel mill products, and processed poultry also moved higher. In contrast, beef and veal prices fell 4.3 percent. The indexes for fresh and dry vegetables and for surgical and medical instruments also declined.
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  read more.

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