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In March, the U.S. PPI increased by 0.5% month-over-month, with energy prices soaring due to the Iran conflict.
Wu said that according to data from the U.S. Bureau of Labor Statistics (BLS), the U.S. Producer Price Index (PPI) in March 2026 increased by 0.5% month-on-month, unchanged from the previous value and below market expectations of 1.1%. Among them, commodity prices rose by 1.6% month-on-month, the largest increase since August 2023, mainly driven by an 8.5% month-on-month rise in energy prices, which the BLS attributed to the Iran conflict. Year-on-year, the March PPI increased by 4%, the largest year-on-year increase since February 2023.