#USFebruaryPPISurgedSurprisingly The US wholesale inflation rate jumped to 3.4% in February, driven by rising food and energy costs, particularly a 49% surge in vegetable prices and a 2.4% increase in food prices. This unexpected surge is largely attributed to the global energy price hike linked to the Iran conflict. As a result, economists are revising their inflation forecasts, and the Federal Reserve is likely to keep interest rates steady, with markets expecting only one rate cut this year.