Producer price index usually for shadows consumer pricing.
Cost pressures keep building, according to new data on wholesale prices, Matt writes.
Driving the news: The Producer Price Index, which measures prices before they reach consumers, surged in January, rising 1% from the prior month. Economists thought it would be up just 0.5%.
Year-over-year prices were up 9.7%, down slightly from 9.8% in December.
Wholesale prices typically filter through to consumers over subsequent months. In other words, inflation likely won’t ease any time soon.
Axios Markets
By Emily Peck and Matt Phillips ·Feb 16, 2022