Producer prices surged more than expected in July, spurring inflation concerns
1. Wholesale inflation rose 0.9% in July, exceeding forecasts significantly. 2. Core PPI increased by 0.9%, the largest since March 2022. 3. Rising inflation may reduce likelihood of a September Fed rate cut. 4. The market is reassessing interest rate expectations following the PPI surprise. 5. Higher wholesale prices indicate persistent inflation pressures in the economy.