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

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?

Can we make Biden’s infrastructure plan $1 trillion bigger so the BLS can update its website pic.twitter.com/0qrGdj670R

— zerohedge (@zerohedge) April 9, 2021

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 and a stunniong 4.2% rise YoY – the highest since 2011…

Source: Bloomberg

The jump was broad based with energy up 5.9%.

One word… “transitory“…