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Wholesale prices jumped in August, driven by gasoline costs
MarketWatch reports the latest wholesale inflation reading adds to a key set of data the Federal Reserve is weighing ahead of its rate decision next week.
U.S. wholesale prices rose again in August, according to MarketWatch, with higher gasoline prices cited as a key driver.
The report is the first of two inflation releases that investors are watching for clues on whether the Federal Reserve will raise interest rates next week.
MarketWatch notes the broader backdrop includes an Iran war-linked energy impact and elevated oil prices, which have fed through to fuel costs at the wholesale level.
The inflation data will be used to gauge the next steps for Fed policy as the central bank weighs the incoming price trends.
Latest closeGasoline (RBOB) $3.062 ▼5.8%