Wu Shuo learned that, according to data from the U.S. Bureau of Labor Statistics (BLS), the U.S. Producer Price Index (PPI) in March 2026 increased by 0.5% month-on-month, remaining unchanged from the previous value, and below the market expectation of 1.1%. Among them, commodity prices rose by 1.6% month-on-month, the largest increase since August 2023, mainly driven by an 8.5% month-on-month rise in energy prices, which the BLS stated was related to the Iran conflict. Year-on-year, the March PPI increased by 4%, the largest year-on-year increase since February 2023.