Services PPI Inflation Explodes. Goods PPI Jumps as Companies Shuffle Tariffs to Each Other. Food & Energy Plunge

The Producer Price Index (PPI) for services spiked by 0.81% (+10.2% annualized) in January from December, seasonally adjusted, the second spike in a row. The PPI for “core” goods, which excludes food and energy products, spiked by 0.68% (+8.5%), the most since 2022. PPI does not track import prices and tariffs...