US producer prices are projected to rise 0.5% month-on-month in April 2026, matching the pace seen in both February and March, as energy costs remain under upward pressure amid the ongoing conflict with Iran. Core producer prices, which exclude the volatile food and energy components, are expected to increase by 0.3%, following a more modest 0.1% gain in the previous month.
On an annual basis, headline producer inflation is forecast to accelerate sharply to 4.9%, marking a third consecutive monthly increase and the highest rate since January 2023, up from 4.0% in March. Meanwhile, the annual core producer inflation rate is anticipated to rise to 4.3% from 3.8% in both February and March, which would also represent its highest level since February 2023.
