Wholesale inflation came in hotter than expected in February. The Producer Price Index (PPI) rose 0.7% for the month and 3.4% year over year. Core PPI (which excludes food and energy) also topped forecasts, increasing 0.5% monthly and 3.9% annually.
On the labor side, initial jobless claims fell by 8,000 to 205,000. However, continuing claims rose by 10,000 to 1.857 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.