Inflation remains sticky as the Producer Price Index came in hotter than expected.
Prices at the wholesale level rose 0.9 percent on the year when the market was expecting 0.6 percent. On the month, prices increased 0.3 percent, and the market was expecting a smaller rise at just 0.1 percent.
The PPI measures prices before they are passed onto the consumer, and this morning’s release, along with the CPI earlier this week, is not good news for inflation.
It is unclear if the Fed will still consider interest rate cuts any time soon.
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