US Wholesale Inflation Unexpectedly Rises 0.9 Percent in July

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

Khokeyma Reed assembles a watch at the Shinola watch factory in Detroit 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 Bureau of Labor Statistics on Aug. 14, the producer price index (PPI) increased by 0.9 percent in July, from the zero percent reading in June.