Wholesale inflation came in much higher than expected in March of this year but the increase was mainly due to the rising cost of gasoline.

PPI for March MoM was reported at 0.6% vs 0.3% consensus estimate; ex food and energy the numbers were 0.3% vs 0.2% estimated.

YoY numbers for March came in at 2.2% vs 1.9% estimate; ex food and energy were flat at 2.4%.

Initial jobless claims were slightly lower than expected at 196k vs 211k consensus estimate.

Continuing claims were 1.713MM vs 1.738MM estimated.