CNN —Rising energy prices helped to fuel yet another hot inflation reading for February.
A closely watched gauge of US wholesale inflation rose at its fastest pace in months, according to new data released Thursday.
While a seasonal energy price surge is at the root of the gain, the latest Producer Price Index is yet another reminder of the arduous process to rein in inflation.
The hot PPI report comes two days after a similar reading from the Consumer Price Index, a closely watched gauge of inflation at the retail level.
Core PPI rose 0.3% for the month, a slowdown from the 0.5% jump in January.
Persons:
Price, we’ve, ” Kyle Anderson, ”
Organizations:
CNN, PPI, of Labor Statistics, Consumer, Federal Reserve, Indiana University’s Kelley School of Business, ”, BLS