Market Updates
Wholesale Price Inflation Jumped to 7-month High
Brian Turner
16 Feb, 2023
New York City
The producer price index, a measure of wholesale prices, in the U.S. rose more than expected in January, the U.S. Bureau of Labor Statistics said Thursday.
The Producer Price Index for final demand increased 0.7% in January from the previous month and advanced 6.0% in a year, the most in seven months.
Prices for final demand goods advanced 1.2%, and index for final demand services rose 0.4%.
Nearly one-third of the January advance in the index for final demand goods can be traced to prices for gasoline, which increased 6.2%.
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