Wholesale prices surged again, according to the latest Producer Price Index
The Producer Price Index was released today, indicating inflation is ticking back up.
Producer prices were up 0.7 percent during January, significantly higher than what the market was expecting. Overall, prices are six percent higher than a year ago, also a significant increase from what the market expected.
Food costs fell one percent during the month, while energy costs rose five percent.
The Producer Price Index measures prices before they are passed onto the consumer.