The producer price index (PPI) rose by more than 0.9 percent last month, the biggest increase since June 2022.
Wholesale prices — the prices at which manufacturers or suppliers sell goods in bulk to retailers instead of individuals — rose more than expected in July, according to a Bureau of Labor Statistics (BLS) report.
The PPI rose by 0.9 percent, which far exceeds the Dow Jones 0.2 percent estimate.
Excluding food and energy prices, core PPI rose by 0.9 percent against the expected 0.3 percent. The index also rose by 0.6 percent when excluding food, energy, and trade services.
On annualized basis, headline PPI increased by 3.3 percent, which…
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