In January, the U.S. witnessed a significant uptick in wholesale inflation, with the Producer Price Index (PPI) rising by 0.3%, surpassing the expected 0.1%, and showing a year-over-year increase of 0.9%. Core PPI, which excludes volatile food and energy prices, also exceeded expectations, climbing by 0.5% month-over-month compared to the forecasted 0.1%, and marking a year-over-year rise of 2.0%. This increase signals persistent inflationary pressure, as services costs soared, contributing to the overall rise in producer prices. The unexpected jump in PPI has led to market recalibrations, with the likelihood of a Federal Reserve rate cut in May now deemed less than 30%. This data, combined with a hot Consumer Price Index (CPI) report earlier in the week, paints a disappointing picture for inflation, challenging hopes for cooling prices.
Inflation comes in hotter than expected at 0.9% in January in producer price index https://t.co/96eMZpPTR6 https://t.co/96eMZpPTR6
"Producer prices rose more than expected in January, with core PPI (yellow line) rising by 0.5%, its largest monthly increase since last July." @KathyJones https://t.co/RVD3hkdAe9
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
The core PCE index in January is likely to have risen 0.4%, the largest increase in a year, according to the forecasters who translate the CPI and PPI into the PCE. That would hold the 12-month rate steady at 2.9% Headline is projected to fall to 2.4% https://t.co/81T1OyWZdi https://t.co/wIxkfNfYmo
US wholesale inflation accelerated in January in latest sign that prices picked up last month https://t.co/jZ9Kv51gaP
PPI going to flow into CPI over coming months. Good luck getting a fed rate cut before September $tlt $tnx $spy $xlf $kre
BREAKING: January PPI inflation hits 0.9%, above expectations of 0.6%. Core PPI inflation JUMPED to 2.0%, above expectations of 1.6%. Both CPI and PPI inflation have come in above expectations in January. https://t.co/9cYbTMZjik
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
⚠️BREAKING: *U.S PPI +0.3% M/M, EXP. +0.1% *U.S. PPI CORE +0.5% M/M, EXP. +0.1% *U.S PPI 0.9% Y/Y, EXP. 0.6% *U.S. PPI CORE 2.0% Y/Y, EXP. 1.6% 🇺🇸🇺🇸 https://t.co/iaxxz5oBZv
PPI rose unexpectedly to 0.3%, fueling market recalibrations on Fed rate cuts. Core PPI surged to 0.5% month-over-month, hinting at underlying inflation pressures beyond volatile food and energy sectors. $SPY https://t.co/yvMayFsSWz
Producer price index rises 0.3% in January, core PPI up 0.6% https://t.co/h3amahIT0i
In month/month terms, PPI #inflation +0.3% vs. +0.1% est. & -0.2% prior; core PPI +0.5% vs. +0.1% est. & -0.1% prior https://t.co/F7YlI7qD3N
January PPI #inflation +0.9% year/year vs. +0.6% est. & +1% in prior month … core PPI +2% vs. +1.6% est. & +1.7% prior https://t.co/wfevK5yB8k
PPI surprised to the upside bigly, which will also lift estimates for the Jan PCE inflation report that will come out at the end of the month. Combined with this week's hot CPI report, the market is now pricing less than 30% odds of a rate cut in may. Core PPI surprised even… https://t.co/yQff4Btlxn
⚠️ 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
Like the CPI data, US PPI #inflation just came in hotter than expected. Month-on-month. the PPI rose by 0.3% in January (0.5% for core), above the consensus forecast of 0.1%, as the 0.6% increase in services offset the 0.2% fall in goods. On an annual basis, headline and core PPI…
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