"Surprise Surge: Wholesale Inflation Hits Highest Level Since September, Signaling Elevated Inflation Pressures"
TL;DR Summary
The Labor Department reported that wholesale inflation surged 0.6% in February, reaching its highest level since September 2023, and core prices, excluding food and energy, rose 0.3%. This data follows the recent increase in consumer prices, indicating persistent high inflation that is impacting U.S. households, particularly low-income individuals. The Federal Reserve is closely monitoring these inflationary pressures and considering potential interest rate adjustments as they aim to bring inflation back to their 2% target.
Topics:business#consumer-price-index#economy#federal-reserve#labor-department#producer-price-index#wholesale-inflation
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