U.S. inflation is heating up despite improvements in supply chain pressures.
This comes as business activity in the United States picked up in February, according to the latest U.S. Purchasing Managers’ Index (PMI) Composite Output Index from S&P Global on Feb. 21.
Although supply chain disruptions showed signs of easing, inflation remain stubbornly elevated, as average prices charged for both goods and services rose in February at the fastest rate since last October.
The PMI report registered 50.2, a jump from 46.8 in January, for the highest reading in eight months, signaling a marginal rise in output after seven months of continual decline….