BlockBeats News, May 13, Wednesday: Data released today showed that the US PPI surged 1.4% month-over-month in April, with the previous March data revised up to a 0.7% growth. This increase is the largest since March 2022, with prices of both goods and services rising. Market expectations were only 0.5%, matching the initial 0.5% announced in March.

So far this year, producer prices have continued to strengthen, partially due to rising energy costs. The Middle East conflict has disrupted the transportation through the Hormuz Strait, impacting the global supply chain and causing shortages of fertilizers, aluminum, and various consumer goods. The PPI rose by 6.0% year-over-year, marking the largest increase since December 2022, significantly higher than the 4.0% in March. Part of the reason is that the lower base effect from last year is gradually exiting the statistical range, thus raising the current year-over-year figure. Inflation spread is intensifying, posing a greater challenge to the Federal Reserve. (FXStreet)