U.S. Wholesale prices rose 0.7 percent over the same month last year, seasonally adjusted, the largest increase since March 2022.
Experts see the increase as an indication that the inflation hampering the U.S. economy for more than 18 months will continue into 2023.
The Bureau of Labor Statistics (BLS) released the Producer Price Index (PPI) on Feb. 16, which measures changes in prices charged by producers of goods and services.
The PPI for goods rose more (1.4 percent) than the price of services (0.4 percent) in January.
About one-third of the rise in goods is attributable to gasoline, which increased 6.2 percent according to the BLS. Other fuels, including natural gas, diesel fuel, and jet fuel also rose, as did the price of soft drinks and cars….