April PPI Inflation Surges to 6.0%, Officially at 3+ Year Highs 2026

April PPI Inflation surges to 6.0%, well above expectations of 4.9% and the highest level since January 2023.

Core PPI Inflation rose to 5.2%, above expectations of 4.3%.

Both CPI and PPI Inflation are now officially at 3+ year highs.

Odds of rate HIKES are rising.

US wholesale #inflation accelerated in April to the fastest pace since 2022, driven by surging energy prices. The PPI index rose 6% YoY, while the core measure that excludes food and energy increased 5.2% YoY, the biggest advance in more than three years. pic.twitter.com/nfS3Yl91Gt

— Ole S Hansen (@Ole_S_Hansen) May 13, 2026

HUGE jump in US PPI inflation:
Powered by an eye-popping 1.4% rise in April, nearly triple the 0.5% consensus, the annual rate has hit 6% (crushing the 4.8% consensus forecast).
Core PPI followed suit, surging 1% (vs. 0.3% expected), bringing annual core inflation to 5.2%…

— Mohamed A. El-Erian (@elerianm) May 13, 2026

Key Events This Week:

1. April PPI Inflation data – Tuesday

2. Fed Chair Powell Speaks – Tuesday

3. April CPI Inflation data – Wednesday

4. April Retail Sales data – Wednesday

5. Philadelphia Fed Manufacturing data – Thursday

6. Total of 12 Fed speaker events this week…

— The Kobeissi Letter (@KobeissiLetter) May 12, 2024

April PPI Surges with Pipeline pressures intensifying post-hot CPI:

– PPI final demand was +1.4% MoM (largest since Mar 2022), up from 0.7% the prior month and well above consensus of 0.5%.

– PPI YoY was 6%, up from 4.3% and higher than the consensus of 4.9%

Sticky upstream… pic.twitter.com/BMIRcUCkQL

— Truflation (@truflation) May 13, 2026

The U.S. Department of ⁠Agriculture has projected that the US will import a record 5.8 billion pounds of beef this year, up about 6% from 2025 and 25% from 2024.

This has nothing to do with rebuilding American herds and alleviating prices, since prices continue to be at record…

— Meriwether Farms (@MeriwetherFarms) May 13, 2026

🚨 Americans have never been this broke before.

Google searches for “can’t pay credit card” just hit an all time high.

At the same time, US consumer confidence has collapsed to one of the lowest levels ever recorded.

The American consumer is completely running out of money. pic.twitter.com/I2oGV6bWzY

— Bull Theory (@BullTheoryio) May 12, 2026

US JOB DATA IS FLASHING RECESSION WARNING SIGNS.

AMERICA HAS LOST 1.37 MILLION JOBS SO FAR THIS YEAR, WITH JOB LOSSES FOR 4 STRAIGHT MONTHS.

SUCH A LONG STREAK OF FALLING EMPLOYMENT IS RARE OUTSIDE A RECESSION.

— First Squawk (@FirstSquawk) May 13, 2026