Set PPI = $1.53

5 lb Part Skim Mozzarella: $9.03 (a)
102 oz tomatoes: $2.63 (b)
25 lb flour: $9.78 (c)
720 Slice of Pepperoni: $8.32 (d)

Enter the PPI equation:

PPI = $0.01 + (a)/10 + ((b)/24)(2) + (c)/50 + (d)/40; or

PPI = $0.01 + $0.90 + $0.22 + $0.20 + $0.21; thus

Set PPI = $1.53, up from $1.52.

This is an all-time high since the PPI was established, but still lower than it was last summer. This data does not support the reports that prices dropped in March. In fact, it indicates the opposite. History:

07FEB: $1.52
13FEB: $1.47
02MAR: $1.45
14APR: $1.52