Core wholesale prices rose 0.8% in January, much more than expected

Core Insights - Wholesale prices increased at a faster-than-expected rate in January, indicating that inflation is not easing as hoped [1][2] - The core producer price index (PPI), excluding food and energy, rose by 0.8%, surpassing the December increase of 0.6% and the Dow Jones estimate of 0.3% [1] - On an all-items basis, the headline PPI rose by 0.5%, exceeding the forecast of 0.3% and showing a 0.1 percentage point increase from the previous month [2] Yearly Trends - For the full year, core wholesale prices accelerated by 3.6%, while the headline index recorded a 2.9% gain [2] - Both core and headline PPI figures are significantly above the Federal Reserve's inflation target of 2%, suggesting persistent inflationary pressures in the U.S. economy [2]