Gasoline and its increases in all products
Producer prices in the United States (PPI) rose sharply in February, because the cost of goods such as gasoline increased, and further increases are expected after Russia's war against Ukraine, which has made oil and other raw materials more expensive.
Tuesday's Labor Department report offered further evidence that inflation will remain uncomfortably high in coming months, despite subdued underlying price pressure at factory gates last month.
The Federal Reserve is expected to raise interest rates on Wednesday for the first time in just over three years, with inflation running well above the US central bank's 2% target. Economists forecast up to seven hikes this year
"For consumer prices to slow down, businesses will first have to deal with shocks from the Russian invasion and new lockdowns in the heart of China's most productive regions.
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