U.S. Stocks Under Pressure Following Latest PPI Report
Recently released data by the U.S. Bureau of Labor Statistics indicated that the Producer Price Index (PPI) in January rose by 6.0% on a yearly basis. On a month-over-month basis, the PPI gained 0.7%. The BLS reported that prices for final demand goods gained 1.2%, while final demand services increased by 0.4%.
The index for final demand minus foods, energy, and trade services advanced by 0.6% last month. This was the largest gain since moving up 0.9% in March 2022, according to the BLS. On an annual basis, prices for final demand (stripping away food, energy, and trade services), moved up by 4.5%...
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