In January, the U.S. experienced a notable increase in import and producer prices, marking the most significant rise in nearly two years. This surge was primarily driven by higher oil prices and Red Sea shipping disruptions, alongside rising costs for petroleum and other goods. The Producer Price Index (PPI) for final demand rose, reflecting a 0.3% increase in U.S. wholesale inflation rate, with core PPI up by 0.6%. Additionally, inflation came in hotter than expected at 0.9% in January in the producer price index. This development has raised concerns over the persistent nature of inflation, despite previous signs of cooling. The increase in producer prices, particularly in services, could amplify worries about inflation picking up pace. Following the report, U.S. stocks fell, indicating growing fears among investors that inflation might be accelerating after a period of relative stability.
US stocks fell after a Labor Department report showed producer prices increased more than expected in January, feeding fears inflation was picking up after months of cooling https://t.co/WBnhOEv1v6 https://t.co/PyJeApueD3
Producer prices and consumer prices both came in hot in January https://t.co/jEWpnsrt8i https://t.co/hF9aMl5Ioh
Inflation comes in hotter than expected at 0.9% in January in producer price index https://t.co/eBkUgzdXGz https://t.co/eBkUgzdXGz
Wholesale prices jump more than expected to stoke inflation fears after months of cooling https://t.co/uSeB90a6tG https://t.co/RrUjBFQSLe
Wholesale prices rose more than expected in January as #Bidenflation shows no signs of going away. Every basic good & service our families need to survive is becoming unaffordable. @JoeBiden's driving our economy off a cliff, & @RubenGallego's in the passenger seat, encouraging… https://t.co/4JzcF0YNNq
US producer inflation surges in January driven by rising service costs https://t.co/9IpdnUXIny https://t.co/oLWAsYvY9z
US wholesale inflation accelerated in January in latest sign that prices picked up last month https://t.co/jZ9Kv51gaP
US producer prices rise more than expected in January https://t.co/uV2Cp6tL3E https://t.co/Ic4IEkuDBg
Wholesale inflation rose more than expected in January, adding to a disappointing inflation picture for the month https://t.co/1wDAoPTelM
Producer price index rises 0.3% in January, core PPI up 0.6% https://t.co/h3amahIT0i
⚠️ US PRODUCER PRICES RISE MORE THAN EXPECTED IN JANUARY (Reuters) U.S. producer prices increased more than expected in January amid strong gains in the costs of services, which could amplify worries that inflation was picking up. The producer price index for final demand rose…
January wholesale prices rise more than expected, another sign of persistent inflation https://t.co/vC0Ucmie2A
JUST IN - Producer price inflation in the United States rose more than expected in January.
Producer Prices Surged In January As Services Costs Soared https://t.co/ACogphVd9K
Prices paid to US producers rose in January by more than forecast, highlighting the sticky nature of inflation https://t.co/5rYBxOsgFT
PPI report reflects U.S. wholesale inflation rate of 0.3% in January https://t.co/WMxnCLkIu3
January wholesale prices rise 0.3%, more than expected: CNBC
🇺🇸 U.S. import prices increased by the most in nearly two years in January amid rising costs for petroleum and other goods, a trend that if sustained, would be bad news in the fight against inflation. https://t.co/Ttko64TQtx
The cost of imported goods jumped in January by the most in almost two years. Higher oil prices and Red Sea shipping disruptions behind the spike. Inflation warning sign? Probably not ... https://t.co/PTZz58VWyy https://t.co/mLVWEOz0J8