US Wholesale Inflation Unexpectedly Rises 0.9 Percent in July

‘The Fed won’t like this report,’ says one finance expert.

Workers assemble watches at a factory in Detroit, Mich., on Jan. 4, 2017. Jeff Kowalsky/AFP via Getty Images

A key pipeline inflation indicator unexpectedly increased in July, driven mainly by an increase in wholesale services.

According to data released by the U.S. Bureau of Labor Statistics on Aug. 14, the producer price index (PPI) increased by 0.9 percent last month, from the zero percent reading in June.