The Producer Price Index, which measures what suppliers are charging businesses, rose 6% for the year ending in January. That’s down from December’s revised 6.5%. On a monthly basis, US producer prices jumped by 0.7% from December.
Economists were projecting year-over-year growth of 5.4% and a monthly gain of 0.4%, according to Refinitiv estimates. Stripping out the food and energy categories, core PPI rose 5.4% annually and 0.5% monthly. This story is developing and will be updated.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
CNN - Inflation is increasing BUT also decreasing
ALL politicians are contributing to this. None of them deserve to be in positions of power