U.S Producer Price Inflation shot up against expectations yesterday, overperforming by 1.2% which has been put down largely to the impacts from the Middle Eastern conflict.
Figures were expected to hit 4.8% but came in at 6% which again is alarming for The U.S and now undoubtedly increases the likelihood of interest rate hikes over the coming months.
Particular increases came from a 12% jump in energy prices, and food prices rising by 1.5% due to supply chain issues.
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