Political | Process

Both monthly increases were exactly in line with Dow Jones estimates. Headline PPI rose 1.6% in March while core was up 0.9%.

Those numbers came the day after the BLS reported that consumer prices for goods and services in the marketplace rose 8.3% from a year ago, down from 8.5% in March but still indicative of the worst inflation the U.S. has seen since the early 1980s.

A separate economic report Thursday showed that jobless claims totaled 203,000 for the week ending May 7, an increase of 1,000 from the previous period. That was above the Dow Jones estimate for 194,000.

Continuing claims fell, however, dropping by 44,000 to 1.343 million, the lowest level since Jan. 3, 1970.

While the news has been largely good for the jobs market, it is inflation that is bedeviling policymakers the most and threatening to thwart the expansion.

Joe Biden this week has spoken multiple times about the raging price increases during his administration and set forth several proposals to tackle the problem.

Gas and groceries have been responsible for much of the inflation surge, with indexes tracking the two sector up a respective 1.7% and 1.5% in April. Auto prices, particularly for used vehicles, also have been a major component, and the PPI index for motor vehicles and equipment increased 0.8%.

The gasoline index fell 3.2%, during a month when prices at the pump eased. However, that trend has since reversed, with gas prices back around record highs.