PPI output rose to 1.4% from 0.9%, above forecasts of 0.5%, while the annual reading climbed to 5.7% from 5.0% and median estimates of 4.8%. PPI output core jumped to 1.1% on the month relative to the revised 0.8% from 0.7%, beating projections of 0.3%. Annually, the reading also surged to 4.4% compared with the previous 3.6% revised to 3.7%, exceeding predictions of 3.5%.

PPI input non-seasonally-adjusted reached 0.6% on the month from 3.6% revised up to 3.8% and on the year it touched 13.1% from 10.1% revised to 10.1%, while estimates were estimates 1.0% and 13.1% on the month and on the year respectively.