CONVEX
Past Release · PPI

March 2025 PPI Report

Saturday, March 1, 2025

PPI printed at 148.06, a -0.12% move from the prior reading of 148.23.

Headline Reading
PPI Final Demand
148.06
Mar 1
Prior
148.23
Absolute
0.18
Percent
-0.12%

What to Watch For

  • Headline PPI year-over-year
  • Core PPI (ex food and energy)
  • Services vs goods split
  • PCE-relevant components: healthcare, airfares, portfolio management
  • Raw materials prices
  • Prior-month revisions

Expected Market Reaction

Similar to CPI but with smaller magnitude on headline; outsized reaction when PCE-linkage components surprise. Hot PCE components: rates up, equities down. Cold PCE components: rates down, equities up.

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