Iran war drives stubborn U.S. inflation, PPI shows
TL;DR Summary
U.S. inflation remains stubborn, with the April Producer Price Index for final demand up 1.4% and 6% higher over the past year (core up 4.4%), as energy and transportation costs feed broader price pressures beyond tariffs tied to the Iran war. The data complicate hopes for Fed rate cuts this year, with some officials signaling possible tightening; markets price a meaningful chance of higher rates by year-end (about 34%).
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