US wholesale prices rose 0.5% in January
In January, US wholesale prices (the Producer Price Index) went up by 0.5%, beating forecasts and showing a faster rise than in December.
Over the past year, prices are up 2.9%.
This matters because higher wholesale costs can eventually mean higher prices for everyone.
Services saw the biggest price jump
Most of the price jump came from services, which saw their biggest increase since July 2025.
Meanwhile, goods actually got a bit cheaper—energy and food costs dropped—so there's a clear split: services are still getting more expensive while goods aren't.
Core prices continue to rise
Even when you leave out food, energy, and trade services (which tend to bounce around), core prices still rose for the ninth month in a row—up 0.3% in January and 3.4% over the year.
That steady climb could influence what the Federal Reserve does with interest rates next.