Know The Difference Minute

Economists were predicting a flat report, but PPI was down .5%. 

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More data on inflation.
Welcome to the Know the Difference Minute for Thursday, April 13th.
A day after a decent, but not great CPI report, comes PPI—or the Producer Price Index. The Labor Department’s producer price index reflects prices charged by manufacturers, farmers and wholesalers. It can provide an early sign of how fast consumer inflation will rise.
In this case, it was decent news. Economists were predicting a flat report, but PPI was down .5%. Wholesale inflation has come down steadily. It was a record in March 2022 at 11.7% when the Fed began raising rates.
It’s a good sign but recession concerns are still top of mind—especially with minutes from the March Federal Open Market Committee meeting showing the Fed expects the recent banking crisis to cause a mild recession later this year with a recovery over the subsequent two years.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.