Today’s edition focuses on the Producer Price Index data collected by the Bureau of Labor Statistics – a dataset which allows us to evaluate and understand aggregate and sector-level shifts in the input costs faced by firms.
The March ISM Manufacturing PMIs came in strong earlier this week, with a dramatic increase in the Production index leading the way.
Some commentators have noted that supply-side disinflation may be reaching an end point, but it is also clear that the supply-side pricing pressures of the pandemic era are over.
Overall industrial production stayed flat year over year in the January data, and shrank by 0.1% month over month.
Overall production inched up, with headline industrial production rising 0.1% month-over-month for a 1% year-over-year increase.
