Wholesale prices rose 0.9% in July, much more than expected

Inflation Indicators - Producer Price Index (PPI) headline number increased by 09% [1] - Core PPI, excluding food and energy, also rose by 09%, matching the increase in June 2022 [1] - PPI excluding food, energy, and trade exceeded expectations, rising by 06% against an expected 02% increase, marking the highest level since March 2022 [2] - Final demand year-over-year increased by 33%, surpassing the expected 25% and reaching the highest level since February [3] - PPI excluding food, energy, and trade year-over-year increased by 28%, exceeding the expected 25% and reaching the highest level since March [3] - PPI excluding just food and energy year-over-year increased by 37%, the largest increase since March when it was 39% [3] - Every PPI metric is warmer than expected and significantly higher sequentially [4] Labor Market - Initial jobless claims decreased by 3000 to 224000 [4] - Continuing claims remained above 19 million for the 12th consecutive week, totaling 1953000, a level last seen in November 2021 [4] - The next increase in continuing claims will push the total over 2 million, a level last seen in November 2021 at 2041000 [5] Bond Market - Interest rates on the 10-year Treasury note moved up to around 425% [5] - The 2-year Treasury note yield increased to 370%, with yields higher across all maturities except for 30-year bonds, which remained virtually unchanged [5]