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Wholesale inflation rose 2.1% in March — sharpest increase in 11 months

Posted on AllSides April 11th, 2024
From The Right

Wholesale prices last month saw their sharpest year-on-year increase in 11 months — one day after a hotter-than-expected US inflation report sent stocks tumbling and stoked fears that the Fed won’t cut interest rates anytime soon. The Producer Price Index — the metric that tracks the prices of products sold as they leave manufacturers — rose 2.1% in March versus a year earlier — its steepest gain since April 2023, according to the US Labor Department. On the positive side, the PPI’s increase — driven by rising prices for services...

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