Producer prices rose less than expected in March, but inflation is still high, especially for services. Consumers are concerned and spending less on non-essential items. Credit card delinquency rates are up, but household finances are generally strong. Retail growth is expected to slow in 2024, and some retailers are seeing a decrease in demand. Overall, although PPI growth has slowed slightly, inflation remains a major issue affecting consumer spending and the retail sector.
Wholesale inflation increased slightly in March, but not as much as expected. Over the past year, inflation has risen 2.1%, which could keep overall inflation high. Despite this, the number of people filing for unemployment benefits has decreased, suggesting the economy is still growing.
Wholesale prices rose faster than expected in February, indicating ongoing inflation concerns. The producer price index jumped 0.6%, largely due to a surge in energy costs. Retail sales also increased but fell short of estimates. Meanwhile, jobless claims declined slightly. This data highlights the challenges facing the US economy as inflation remains high.
