February PPI: 0.7% MoM vs 0.3% MoM expected (above expectations)
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.
📊 Results
Actual Reading
Market Reaction
💡 Key Takeaway
Hot wholesale inflation fed the view that upstream price pressure was still building. That made the Fed's inflation problem look harder, not easier.
📖 Why This Matters
Producer prices round two: supply chain chaos meets demand delusion.
February PPI actual vs expected
| Release date | Wednesday, March 18, 2026 at 08:30 ET |
|---|---|
| Event type | PPI |
| Actual | 0.7% MoM |
| Expected | 0.3% MoM |
| Prior | 0.5% MoM |
| Expectation surprise | above expectations |
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FAQ
What was the February PPI result?
February PPI came in at 0.7% MoM versus 0.3% MoM expected, above expectations.
How did markets react to February PPI?
Treasury yields rose and rate-cut expectations were pushed further out.
🔗 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.
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.
April PPI
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.