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ISM Manufacturing prices paid rose to 78.3 in March, exceeding estimates of 74.0 and marking the highest level since mid-2022.
Liz Thomas highlights that while ISM Services data is due next week, this increase may indicate meaningful upward pressure on the U.S. Consumer Price Index if the trend continues.
Thomas recently noted that inflation swaps have risen, though remain below last year’s tariff-driven highs. She has also highlighted that oil market volatility is persisting with traders discounting a worst-case scenario. The latest ISM data arrives as these themes remain in focus for investors.