Core wholesale prices rose 0.8% in January, much more than expected
Story by Jeff Cox
The core PPI, which excludes volatile food and energy prices, increased a seasonally adjusted 0.8%, more than the 0.6% gain in December and well ahead of the Dow Jones consensus estimate for 0.3%.
On an all-items basis, headline PPI rose 0.5%, also above the forecast for 0.3% and 0.1 percentage point more than the prior month.
For the full year, core wholesale prices accelerated 3.6%, while the headline index posted a 2.9% gain.
Wholesale prices rose at a faster-than-expected pace in January, countering hopes that inflation was easing, the Bureau of Labor Statistics reported Friday.
The core producer price index, which excludes volatile food and energy prices, increased a seasonally adjusted 0.8%, more than the 0.6% gain in December and well ahead of the Dow Jones consensus estimate for 0.3%.
On an all-items basis, the headline PPI rose 0.5%, also above the forecast for 0.3% and 0.1 percentage point more than the prior month.
more
https://www.msn.com/en-us/money/markets/core-wholesale-prices-rose-08-in-january-much-more-than-expected/ar-AA1XcTxp
