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<p>The Producer Price Index (PPI) surged to an all-time high of 8.3% in its most recent reading, showing that supply/demand imbalances are persisting.&nbsp; This was also the 16<sup>th</sup> consecutive gain in the PPI, the longest streak on record. While PPI for Final Demand (the Bureau of Labor Statistic’s preferred measure of producer prices) may have a limited history, PPI for Finished Goods (which goes back to 1948) is also extended at a 94<sup>th</sup> percentile reading of 10.3%.&nbsp; With input costs continuing to surge, it is likely that inflation will remain elevated in the months ahead.</p>
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