Wholesale inflation rose in March but not as much as expected. The headline Producer Price Index (PPI) increased 0.5% for the month and 4% year over year, both below forecasts. Core PPI, which strips out food and energy, came in even softer, rising just 0.1% monthly and 3.8% annually. While inflation remains elevated, these readings came in better than the market feared. On the labor side, initial jobless claims fell by 11,000 to 207,000. However, continuing claims rose by 31,000 to 1.82 million, indicating that many job seekers are taking longer to find full-time work. Some may also be turning to gig or part-time roles, which aren’t fully reflected in the data.