US Economic Calendar: Producer Prices and FOMC Member Chatter
On Thursday, US producer prices will attract investor interest. After the US CPI Report, upward trends in US producer prices could signal a higher consumer price outlook. Producers increase prices in a rising demand environment, passing costs onto consumers.
Economists expect producer prices to advance by 2.2% year-on-year after increasing 1.6% in February. Moreover, economists predict core producer prices to increase 2.3% year-on-year. In February, core producer prices rose by 2.0%.
Beyond the inflation numbers, US labor market data will also be in focus. Economists forecast US initial jobless claims to fall from 221k to 215k in the week ending April 6. However, barring an unexpected spike in jobless claims, producer price trends will likely have more impact.
Investors should track FOMC member reactions to the March inflation numbers. FOMC members Raphael Bostic, Susan Collins, and John Williams are on the calendar to speak.
