US wholesale inflation comes in hotter than expected in January
CNN
Wholesale inflation, as measured by the Producer Price Index, rose more than expected in January, adding to a disappointing inflation picture for the month.
Wholesale inflation, as measured by the Producer Price Index, rose more than expected in January, adding to a disappointing inflation picture for the month. The Producer Price Index rose 0.3% last month, resulting in an annual increase of 0.9%, according to Bureau of Labor Statistics data released Friday. Despite coming in hotter than economists had expected (a projected 0.7% annual gain, according to FactSet), the annual rate is in line with what was seen during the last quarter of 2023. When stripping out the food and energy categories, which tend to be volatile, core PPI jumped 0.5% for the month, bringing the yearly increase to 2%, a hotter reading than December’s 1.7%. PPI captures average price shifts before they reach consumers and serves as a potential signal for the prices consumers ultimately end up paying. This story is developing and will be updated.
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