Producer Price Index: Wholesale prices rose 0.9% in July

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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