Producer Price Index is inflation at a business-to-business level (in a nutshell). It is also known as the Corporate Goods Price Index, which is probably a better indication as to what it is.

8.5% y/y

  • expected 8.8%, prior 9.0%

0.2% m/m

  • expected 0.3%, prior 0.6%

In the release is also an indication of consumer prices. The 'domestic final goods prices' index, which (so its said) loosely correlates with CPI. Its currently reading much higher than official CPI though and is not serving as reliable guide at all. Comes in at 1.8% in December 2021.