Wholesale prices spike 3.4%
U.S. wholesale prices jumped 3.4% last month — the fastest annual pace in a year — signalling renewed inflationary pressure even before the latest energy shocks hit markets. The World Food Programme says 318 million people face “crisis levels of hunger or worse” in 2026, and El Niño odds of 62% for late summer plus Peru’s downgraded outlook and grain‑market volatility threaten to push food and transport costs higher. (thenewsherald.com, wfp.org, jsonline.com, gestion.pe, markets.financialcontent.com)
The BLS reported producer prices for final demand rose 0.7% from January, with core final‑demand (ex food and energy) up 0.5% month‑over‑month and core year‑over‑year inflation at 3.9%. (bls.gov) BLS commodity details show prepared vegetable prices jumped 48.9% month‑to‑month while diesel fuel soared 13.9% in February, and crude petroleum was up 4.7% (all contributing to higher transportation and food input costs). (bls.gov) The World Food Programme’s 2026 Global Outlook estimates 318 million people will face acute hunger (IPC Phase 3+) in 2026 and flags 41.1 million in Emergency or worse, while WFP says it aims to feed 110 million people in 2026 against an estimated $13 billion need and expects funding to fall well short. (wfp.org) NOAA’s Climate Prediction Center put the odds of El Niño forming in June–August 2026 at about 62% and said a developing El Niño would likely persist through at least the end of 2026. (cpc.ncep.noaa.gov) Regional forecasts and Peruvian agencies note heavy El Niño‑related rain and landslide risk for coastal Peru, and BBVA Research trimmed Peru’s 2026 GDP forecast from 3.1% to 2.9% citing recent negative supply shocks and climate risks. (reliefweb.int) The AMIS/FAO March market monitor recorded firmer wheat quotations in February amid adverse weather and logistical strains, and the FAO Food Price Index rose 0.9% in February; analysts also point to rising biofuel demand for vegetable oils and recent fertilizer and energy price shocks as drivers of renewed grain‑market volatility. (foodsecurityportal.org)
