April PPI: 1.4% MoM vs 0.5% MoM expected (above expectations)
April PPI shocked higher: final demand jumped 1.4% MoM versus 0.5% expected, while the annual rate accelerated to 6.0% from 4.3%. Services, trade margins, transportation, and energy all contributed, making the inflation scare broader than just gasoline.
📊 Results
Actual Reading
Market Reaction
💡 Key Takeaway
This was the hottest monthly final-demand PPI move since March 2022 and it followed an already-hot CPI. The report raised the risk that pipeline inflation feeds into PCE and keeps the Fed pinned hawkish.
📖 Why This Matters
Spring PPI: inflation blooms eternal in the producer price garden.
April PPI actual vs expected
| Release date | Wednesday, May 13, 2026 at 08:30 ET |
|---|---|
| Event type | PPI |
| Actual | 1.4% MoM |
| Expected | 0.5% MoM |
| Prior | 0.7% MoM |
| Expectation surprise | above expectations |
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FAQ
What was the April PPI result?
April PPI came in at 1.4% MoM versus 0.5% MoM expected, above expectations.
How did markets react to April PPI?
S&P 500 +0.6% and Nasdaq +1.2% to record closes, but 10Y yields stayed elevated near 4.47% after the hot print.
🔗 Related Events
January PPI
Hot — headline PPI +0.5% MoM (vs +0.3% expected), driven by services costs surging. Core PPI +3.6% YoY. Tariff passthrough showing up in producer prices.
February PPI
Producer prices jumped 0.7% MoM in February, well above the 0.3% consensus. The yearly pace accelerated to 3.4%, showing pipeline inflation was heating up before second-round war effects fully hit.
March PPI
Producer prices rose 0.4% MoM in March, hotter than the 0.2% consensus, with headline PPI accelerating to 3.5% YoY and core measures staying sticky. The report reinforced the idea that pipeline inflation pressure was still building after the war-driven energy shock.