Wholesale prices rose sharply in January, in another sign of lingering inflationary pressures in the economy that will keep high U.S. interest rates from falling much anytime soon.

The producer price index for final demand climbed 0.4% from a month earlier, and that after an upwardly revised 0.5% increase in December, the Bureau of Labor Statistics said Thursday. The data on wholesale prices comes just a day after a consumer price index report showed underlying inflation at its highest in more than a year.

Producer costs are those paid by businesses and are often passed on to customers. The PPI report follows Wednesday’s consumer price index for January that saw inflation rise by 0.5% and 3% for the year.