-->Prices for both imported goods and exported goods rose sharply in March, setting the stage for increases in PPI and CPI data on Tuesday and Wednesday of next week.

The most important reading -- import prices excluding petroleum -- rose a more-than-moderate 0.3% on the month and were up a not-so-tame 2.9% on the year. Increases in prior months were 0.1% and 0.3%.

Including petroleum, the reading posted the biggest jump in more than two years -- up 1.8% and up 7.1% on the year. Petroleum import prices rose 10.6% in the month and are up a very scary 36.1% on the year.

These readings are sure to upset stomachs at the Federal Reserve. The risk may be building that incremental rate hikes won't be enough to curb inflation.

-->>These readings are sure to upset stomachs at the Federal Reserve. The risk may be building that incremental rate hikes won't be enough to curb inflation.

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