Reported about 11 hours ago
U.S. wholesale prices rose by 0.2% last month, attributed to higher energy costs, particularly a 3.5% increase in energy prices led by a notable rise in gasoline prices. Compared to the previous year, producer prices saw a 3.3% increase, marking the largest jump since February 2023. Despite a decrease in food prices, the overall inflation figures were slightly below economists' expectations. The Federal Reserve is likely to remain cautious about rate cuts due to persistent inflation, as they anticipate only two reductions in 2025 instead of the previously projected four.
Source: YAHOO