"January Sees Accelerated Wholesale Inflation in US"

Wholesale prices in the U.S. rose more than expected in January, with the producer price index (PPI) increasing by 0.3%, exceeding economists' forecasts. Excluding food and energy, core PPI rose by 0.5%, while PPI excluding food, energy, and trade services jumped by 0.6%. This comes after the consumer price index (CPI) showed persistent inflation, with CPI up 3.1% from a year ago. The report has raised concerns about inflation persistence, leading to market reactions and adjustments in expectations for Federal Reserve interest rate cuts. Additionally, retail sales in January slid by 0.8%, further complicating the economic outlook.