Bank of America Global Research discusses the latest March PPI report.

"The March PPI report was softer than expected as headline, core and core-core PPI all came in below expectations. Incorporating the CPI and PPI data, we expect March headline and core PCE inflation of 0.1% m/m and 0.3%, respectively. The PPI data lifted our 1Q GDP tracking estimate a tenth to 1.6% q/q saar," BofA notes. 

"In short, the PPI data point to easing price pressures on producers. As a result, we believe the PPI data support further disinflation in core goods CPI (Consumer Price Index) inflation," BofA adds.