Topix Underground

"...Much higher than expect Producer Price Index report

US producer prices rose far more than expected in April, official data showed, echoing signals in the consumer inflation release that rising fuel prices are stoking wider price pressures. On a year-over-year basis, headline wholesale inflation came in at 6% in April, overshooting estimates of 4.8%.

The surprisingly hot readings on consumer and producer prices amid the Iran war fallout reinforce bets that the Federal Reserve will hold interest rates steady at its next meeting..."