2026-05-13T12:42:55.756Z / 路透社
作者：露西娅·穆蒂卡尼
2026年5月13日 12:42 世界标准时间 | 更新于31分钟前
2025年8月15日，美国加利福尼亚州兰乔圣达菲的奇诺农场，西红柿待售。此前美国生产者价格指数涨幅超出预期，受服务和商品成本飙升推动。REUTERS/迈克·布雷克 购买授权，打开新标签页
- 内容摘要
- 4月生产者价格指数上涨1.4%，为2022年3月以来最大涨幅
- 生产者通胀上行覆盖服务和商品领域
- 生产者价格同比上涨6.0%，为2022年12月以来最大同比涨幅
华盛顿，5月13日（路透社）——美国4月生产者价格指数创下四年最大涨幅，受商品和服务成本飙升推动，这是伊朗战争背景下通胀加速的最新迹象，也给正在前往北京与中国领导人会晤的唐纳德·特朗普总统带来了国内政治难题。
美国劳工部周三公布的生产者价格指数涨幅超出预期，此前周二公布的消费者价格指数同样实现强劲上涨，推动年度通胀率达到三年来最快增速。
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由美以对伊朗战争推高的通胀正在给美国家庭带来经济压力。特朗普周二在前往中国的途中表示，他在寻求结束这场战争的决策中“不会考虑美国人的财务状况”，并补充道，阻止德黑兰获得核武器是他的首要任务。
通胀上涨正变得无处不在，给美联储带来挑战。金融市场预计，美国央行将把基准利率维持在3.50%-3.75%区间直至2027年。
“投入价格的飙升预示着5月消费者价格将进一步上涨，”全美保险公司高级经济学家本·埃尔斯说道。“我们预计联邦公开市场委员会的鹰派阵营将主张延长利率暂停周期，即便即将上任的美联储主席凯文·沃什可能更倾向于未来降息。”
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劳工部劳工统计局表示，最终需求生产者价格指数上月飙升1.4%，为2022年3月以来最大涨幅，此前3月涨幅经向上修正后为0.7%。路透社调查的经济学家此前预测，在3月此前公布的0.5%涨幅基础上，4月生产者价格指数将上涨0.5%。
今年以来生产者价格涨幅显著，部分原因是能源成本上涨，而战争扰乱了霍尔木兹海峡的航运。这场冲突正在紧张全球供应链，导致包括化肥、铝和消费品在内的多种商品短缺。
在截至4月的12个月里，生产者价格指数跳涨6.0%。这是2022年12月以来的最大同比涨幅，此前3月涨幅为4.3%。年度生产者价格指数涨幅的部分激增反映出去年的低基数效应已从计算中移除。
美国股市开盘涨跌互现。美元兑一篮子货币走强。美国国债收益率上升。
标题为“美国生产者价格指数月度变化”的柱状图
价格全面上行
服务价格上涨1.2%，几乎占月度生产者价格指数涨幅的60%。服务领域的四年最大涨幅由批发商和零售商的利润率飙升2.7%推动，这表明企业正将上涨的成本转嫁给消费者。
机械和设备批发利润率飙升3.5%。专业和商业设备批发以及服装、珠宝、鞋类和配饰零售的利润率也有所上涨。燃料和润滑油零售利润率飙升26.6%。
公路货运成本上涨。法律服务价格上涨，批发机票价格也上涨，但涨幅较3月有所放缓。
但投资组合管理费下降。酒店和汽车旅馆房间价格也有所下跌。医疗保健成本小幅上涨。这些都是纳入个人消费支出价格指数计算的部分指标，美联储以该指数2%的通胀目标为基准。
批发商品价格上涨2.0%，此前3月涨幅为1.9%。能源价格上涨7.8%，占商品价格全面上涨的四分之三以上。批发汽油价格上涨15.6%，延续了3月19.2%的涨幅。食品价格反弹0.2%。扣除波动较大的食品和能源成分后，生产者商品价格飙升0.7%，此前连续两个月上涨0.3%。
结合生产者价格指数和消费者价格指数数据，经济学家估计，在3月上涨0.3%之后，4月核心个人消费支出通胀可能上涨高达0.4%。所谓的核心个人消费支出通胀同比涨幅预估最高可达3.4%。3月该指数上涨3.2%。
露西娅·穆蒂卡尼报道；奇津·野宫和安德里亚·里奇编辑
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US producer prices post biggest gain in four years as inflation rises broadly
2026-05-13T12:42:55.756Z / Reuters
By Lucia Mutikani
May 13, 2026 12:42 PM UTC Updated 31 mins ago
Tomatoes are displayed for sale at the Chino Farm in Rancho Santa Fe, after U.S. producer prices increased more than expected in July amid a surge in the costs of services and goods, in California, U.S., August 15, 2025. REUTERS/Mike Blake Purchase Licensing Rights, opens new tab
- Summary
- Producer Price Index increases 1.4% in April, largest gain since March 2022
- Increase in producer inflation is across services and goods
- Producer prices rise 6.0% year-on-year, biggest advance since December 2022
WASHINGTON, May 13 (Reuters) – U.S. producer prices posted their biggest increase in four years in April, boosted by soaring costs for goods and services, the latest sign of accelerating inflation amid the war with Iran and presenting President Donald Trump with a political headache at home as he arrived in Beijing for meetings with China’s leader.
The larger-than-expected rise in the Producer Price Index reported by the Labor Department on Wednesday followed on the heels of news on Tuesday of another solid increase in consumer prices, which resulted in the annual inflation rate advancing at its fastest pace in three years.
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Rising inflation, stoked by the U.S.-Israeli war with Iran, is exerting financial pressure on households. Trump, on his way to China on Tuesday, said “I don’t think about Americans’ financial situation” in making decisions as he seeks to negotiate an end to the war, adding that preventing Tehran from acquiring a nuclear weapon is his top priority.
The increase in inflation is becoming pervasive, posing a challenge for the Federal Reserve. Financial markets expect the U.S. central bank to keep its benchmark overnight interest rate in the 3.50%-3.75% range into 2027.
“The jump in input prices portends further increases for consumer prices in May,” said Ben Ayers, senior economist at Nationwide. “We expect the hawkish wing of the FOMC to advocate for an extended pause in interest rates even with incoming Fed Chair Kevin Warsh likely to prefer to lower rates over time.”
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The PPI for final demand surged 1.4% last month, the largest rise since March 2022, after an upwardly revised 0.7% advance in March, the Labor Department’s Bureau of Labor Statistics said. Economists polled by Reuters had forecast the PPI gaining 0.5% after a previously reported 0.5% increase in March.
Producer prices have increased strongly this year, partly driven by higher energy costs, as war disrupted shipping in the Strait of Hormuz. The conflict is straining global supply chains, causing shortages of a wide range of goods, including fertilizers, aluminum and consumer products.
In the 12 months through April, the PPI jumped 6.0%. That was the largest increase since December 2022 and followed a 4.3% rise in March. Part of the surge in the year-on-year PPI rate reflected last year’s low readings dropping out of the calculation.
U.S. stocks opened mixed. The dollar advanced against a basket of currencies. U.S. Treasury yields rose.
A column chart with the title ‘Monthly change in US Producer Price Index’
BROAD INCREASE IN PRICES
A 1.2% increase in services accounted for nearly 60% of the jump in the monthly PPI. The biggest advance in services in four years was driven by a 2.7% surge in margins received by wholesalers and retailers, indicating that businesses were passing on rising costs to consumers.
Margins for machinery and equipment wholesaling shot up 3.5%. There were also increases in margins for professional and commercial equipment wholesaling as well as apparel, jewelry, footwear and accessories retailing. Margins for fuels and lubricants retailing surged 26.6%.
The cost of transporting freight by road increased. Prices for legal services rose as did wholesale airfares, though the pace slowed from March.
But portfolio management fees fell. Prices for hotel and motel rooms also dropped. Healthcare costs rose marginally. These are some of the measures that go into the calculation of the Personal Consumption Expenditures price indexes, which are tracked by the Fed for its 2% inflation target.
Wholesale goods prices increased 2.0% after rising 1.9% in March. A 7.8% jump in energy prices accounted for more than three-quarters of the broad-based rise in goods prices. Wholesale gasoline prices increased 15.6%, adding to the 19.2% surge in March. Food prices rebounded 0.2%. Excluding the volatile food and energy components, producer goods prices shot up 0.7% after rising 0.3% for two straight months.
With the PPI and CPI data in hand, economists estimated core PCE inflation could rise by as much as 0.4% in April after gaining 0.3% in March. Estimates for the year-on-year increase in the so-called core PCE inflation were as high as 3.4%. It increased 3.2% in March.
Reporting by Lucia Mutikani; Editing by Chizu Nomiyama and Andrea Ricci
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