This week, it was reported that U.S. producer prices spiked 0.7% in January — the largest monthly gain since June. From January 2022 to January 2023, producer costs increased 6%, a decline from December’s 6.5%. Consumer inflation grew 6.4% over 12 months, as illustrated in these charts. Chad Moutray, chief economist of the National Association of Manufacturers, said the Federal Reserve will likely approve 25-point rate hikes at both its March 21-22 and May 2-3 meetings. OMA Connections Partner RSM has published this report advising manufacturers to implement new technology as part of a broader strategy to combat high inflation. 2/15/2023