Finding Signal Versus Noise in PPI Data

The latest Producer Price Index came in a bit hot—but inflation is a trend story, not a one-month headline. The real signal: energy is down, goods prices are flat, and inflation remains far below its peak. What’s rising is tied to healthy markets and returning industrial activity. Orders are coming back, factories are busy again, and America’s manufacturing muscle is rebuilding under President Trump—whether Jay Powell wants to hear it or not.