Important Economic Data

More Signs of Inflation Pressures in the U.S.

The PPI rose 1.6% in February, well above the consensus of 0.7%. The bulk of the upside surprise was due to a 3.9% jump in food prices. Notably, the increase in food prices was partly reflected a 48.7% surge in vegetables, which accounts for about 4% of the food index. It should be with little doubt that food prices will continue to increase globally over the next several months.