Wholesale prices for June rose more than expected in another sign that inflation is moving at a faster pace than markets had anticipated.
The producer price index (PPI), which measures what companies get for the goods they produce, increased 1% from May and jumped 7.3% on a year-over-year basis. That marked the second month in a row the PPI set a record for a data series that goes back to 2010.
Economists surveyed by Dow Jones had been looking for a 0.6% monthly increase.
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