批发通货膨胀率比预测更热，令人失望的投资者和政策制定者希望冷却价格压力

生产商价格指数（PPI）在一月份增长了0.4％，而经济学家预测为0.3％，12月为0.2％。

Headline inflation at the wholesale level in the United States rose more quickly than anticipated in January, providing further evidence of persistent price pressures that might postpone plans by the Federal Reserve to begin cutting interest rates later this year.

美国批发级别的标题通货膨胀率比一月份预期的要快，这进一步提供了持续的价格压力的证据，可能会推迟美联储计划于今年晚些时候开始降低利率。

The Labor Department said on Friday that its Producer Price Index (PPI) for final demand increased 0.4% last month. Economists polled by Econoday had expected a 0.3% rise. The PPI increased by 0.2% in December.

劳工部周五表示，其最终需求的生产商价格指数（PPI）上个月增加了0.4％。经econoday进行的经济学家预计会增长0.3％。 12月，PPI增加了0.2％。

In the 12 months through January, the PPI advanced 3.5%. That was a touch lower than the 3.6% year-over-year increase in December but higher than economists' forecasts for a 3.2% rise.

在截至1月的12个月中，PPI上涨了3.5％。这比12月份的3.6％同比增长3.6％，但高于经济学家的预测，增长了3.2％。

Excluding the volatile food and energy components, core PPI rose 0.3% in January. Economists had forecast a 0.3% increase after a 0% rise in December.

除了挥发性食品和能源组件外，核心PPI在一月份上涨了0.3％。经济学家预测12月增长0％后增长0.3％。

Core PPI increased by 3.6% year-over-year in January, compared with economists' expectations for a 3.3% rise. The core PPI increased by 3.7% year-over-year in December.

与经济学家对3.3％增长的期望相比，一月份的核心PPI同比增长了3.6％。 12月，核心PPI同比增长3.7％。

Economists closely monitor the PPI figures for early indications of future trends in consumer inflation, as measured by the Consumer Price Index (CPI).

通过消费者价格指数（CPI）衡量，经济学家密切监视了PPI数据的早期迹象，以表明消费者通货膨胀的未来趋势。

On Thursday, the Labor Department said the CPI increased by 0.7% in January, above economists' expectations and marking the biggest gain since June. In the 12 months through January, the CPI increased by 6.3%.

劳工部周四表示，一月份的CPI增长了0.7％，超出了经济学家的期望，并标志着自6月以来的最大收益。在截至1月的12个月中，CPI增长了6.3％。

Testifying before Congress on Friday following the fast inflation report, Federal Reserve Chair Jerome Powell said there is “more work to be done” on the inflation front.

联邦储备主席杰罗姆·鲍威尔（Jerome Powell）在周五在国会上作证说，在通货膨胀方面，“还有更多工作要做”。

The PPI number took on even greater significance as Powell said he would be interested in seeing if today's number confirmed the disappointing CPI data.

PPI编号具有更大的意义，因为鲍威尔说，他有兴趣查看今天的数字是否证实了令人失望的CPI数据。

After cutting rates 100 basis points in the final months of 2024, Powell and the rest of the Fed have made clear their intent to pause any further monetary ease until there's a notable slowdown in the economy and/or inflation.

在2024年的最后几个月降低了100个基点后，鲍威尔和其他美联储的其他人已经明确表示，他们打算暂停任何进一步的货币轻松，直到经济和/或通货膨胀率显着放缓为止。

Before the PPI figure was published, markets had priced in only one rate cut for all of 2025, according to the CME Fed Watch Tool.

根据CME Fed Watch Tool，在PPI数字出版之前，市场的价格仅为2025年的一个税率。

The central bank is expected to raise its benchmark overnight lending rate by a quarter point at the conclusion of its two-day policy meeting on March 21.

预计中央银行将在3月21日的为期两天的政策会议结束时提高其基准的过夜贷款率。