Energy costs trigger steep PPI spike

U.S. wholesale inflation has soared to its largest increase in
several years, as Iran war-related energy price increases
continue to elevate freight transportation costs

U.S. PRODUCER PRICE INDEX (PPI) (% change year-on-year)*
Measures changes in wholesale prices

Total

Final Demand: Total – less volatile foods, energy, and
trade services – considered core measure of inflation

12
10
8
6
4
2
0
-2

2020 2021 2022 2023 2024 2025 2026

JAN 2020
2.0%

JAN 2020
1.5%

APR 2026
6.0%

APR 2026
4.4%

I don’t
think
about
Americans’
financial
situation

TRUMP,
AIRING
VIEWS
ON IRAN

*Not seasonally adjusted

Covid-19 pandemic

Trump
Biden
Trump

Trump’s remark, made just before jetting off to meet Xi Jinping in Beijing,
is likely to draw criticism on his return, from those who argue administration
should balance geopolitical objectives with cost-of-living concerns at home

Sources: Reuters, Bloomberg, U.S. Bureau of Labor Statistics Picture: Getty
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