Inflation may be poised to tick higher, according to the most recent Producer Price Index.
The PPI came in at 0.9 percent in July, where the markets were expecting a 0.2 percent increase. On the year, the Index rose 3.3 percent, and the markets were expecting a 2.5 percent climb.
Wholesale machinery costs made up around 30 percent of the rise in prices.
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Following an on-target CPI, the combination could suggest that inflation is cooling.
