Indicators
US Producer Prices Exceed Forecast in Biggest Gain Since June
- Index of wholesale costs rose 0.7% in January on monthly basis
- Goods prices climbed 1.2%, while measure of services rose 0.4%
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US producer prices rebounded in January by more than expected, underscoring persistent inflationary pressures that could push the Federal Reserve to pursue further interest-rate increases in the months ahead.
The producer price index for final demand jumped 0.7% last month, the most since June and bolstered by higher energy costs, according to data out Thursday from the Bureau of Labor Statistics. The PPI climbed 6% from a year earlier.