On Wednesday morning (of March 15, 2023), the Bureau of Labor Statistics released a PPI (Producer Price Index) report that showed lower-than-expected inflation for the month of February. Prices were expected to rise .3 percent, but instead they fell.

The February producer price index expected to be up 3/10. But it was down 1/10 of 1%, I repeat: down 1/10 of 1%!

The news comes on the heels of a CPI report that President Joe Biden pointed out “shows annual inflation is down by a third at a time when the unemployment rate remains near a 50-year low.”