U.S. Wholesale Prices Surge, Highest in 2 Years

0:00You're listening to Global News today, powered by the Daily News Now. US wholesale prices rose more than expected in February, climbing 0.7% from January and 3.4% from a year. Earlier, that yearly jump marched the biggest since February 2025. The producer-priced index tracks inflation at the wholesale level before it reaches shoppers. Food costs led to surge, jumping 2.4% last month, with vegetables of 49% and fruits of 10%. Core prices, excluding food and energy, still increased 0.5% from January and 3.9% year over year. This data came out before the US and Israel attacked Iran, which sent oil prices of nearly 50% and pushed average gasoline to 3. Dollars $0.84 per gallon from under $3 the month before. Diesel is climbing even faster. Economists worry this isn't a one-time blip, as companies face ongoing cost pressures from things like tariffs.

1:00Stocks reacted poorly, with the S&P 500, Dow and Nasdaq dropping at the open. The Federal Reserve is watching closely amid high consumer inflation too, like 2.4% for overall prices and core personal consumption. Expenditures at 3.1%, the highest in nearly 2 years. The energy spike from a conflict adds more uncertainty. A quick thank you to our sponsor of today's episode. A pillow that plays your podcast, music, or white noise privately, no earbuds required. S-O-L-L-I-A, solely pillow.com.