The Bureau of Labor Statistics announced Friday wholesale prices rose much more quickly than expected in January, CNBC reported.
The core producer price index increased by 0.8%. The estimate was a rise of 0.3%.
This indicates that inflation has not eased. On an all-items basis, the headline PPI rose 0.5%, also above the forecast for 0.3%.
For the entire year, core wholesale prices increased 3.6%.
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CNBC said services drove most of the increase. And over 20% of the increase in services came from margins for professional and commercial equipment wholesaling.
