US producer prices rose 2.1% from last year, most since April, as inflation remains stubborn
- The Fed raised its benchmark interest rate 11 times between March 2022 and July 2023, reaching a 23-year high.
- Consumer prices rose by 3.5% last month compared to a year earlier, remaining above the Fed's 2% target.
- The Labor Department reported a 2.1% increase in the producer price index last month, causing doubts about future rate cuts.
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Leaning Left9Leaning Right3Center14Last Updated23 days agoBias Distribution54% Center