Inflation Report: Strong Services Price Increases Lift US Producer Inflation
Washington D.C., February 16 – Inflation concerns continue to weigh on the US economy as January saw a significant increase in producer prices, particularly in the services sector. The rise in prices has sparked turbulence in the stock market, with stocks ending the week on a lower note. The consumer price index (CPI) showed a more than expected increase in wholesale prices, further signaling the persistence of inflation in the economy. The producer price index …