Firm wholesale price increases persisted in January, a further sign of stubborn inflation after Wednesday's surprisingly hot consumer-price data. The producer-price index rose 0.4% in January, following a 0.

U.S. wholesale prices came in hotter than expected last month with progress against inflation appearing to have stalled, further undercutting expectations for lower interest rates this year. Economists and financial markets fear President Donald Trump’s policies will push inflation higher yet.

US wholesale inflation remained stubbornly elevated last month, another sign that even higher prices could be ahead for American shoppers.