CNN
—
Wholesale-level inflation heated up further to close out 2024, a sign that price pressures are building at a time when President-elect Donald Trump threatens to unleash a substantial array of tariffs.
The Producer Price Index, which measures the average change in prices paid to US-based producers for goods and services, rose 0.2% from the month before and 3.3% for the year ended in December, according to Bureau of Labor Statistics data released Tuesday.
PPI’s annual rate is at its highest point since February 2023.
Economists were expecting PPI to rise 0.3% on a monthly basis and move to 3.4% annually.
This story is developing and will be updated.
