The data complicates the picture for an anticipated interest-rate cut at the Federal Reserve’s next meeting in September by nudging the central bank’s inflation gauge in the w

US inflation on the wholesale level picked up steam in July, with prices rising by the fastest monthly pace since June 2022, new data showed Thursday.

Gold prices edged higher on Friday, buoyed by a weaker dollar, but were poised for a weekly decline after hotter-than-expected U.S. inflation data dampened prospects for a super-sized September rate cut by the Federal Reserve.

Wall Street is edging back from its record heights on Thursday after a disappointing report said inflation was worse last month at the U.S. wholesale level than economists expected. The S&P 500 slipped 0.

Wall Street stocks finished little changed Thursday as markets absorbed a disappointing inflation report, while oil prices shot higher on the eve of a US-Russia summit on Ukraine.

The stock market’s rally stalled on Thursday after new data showed factory-gate inflation picking up, introducing fresh question marks over the outlook for interest rates. Major indexes finished mixed and near the flatline after investors bought the shares of big technology and financial companies and sold smaller stocks that had surged earlier in the week.

Gas prices plummeted last year and that's kept inflation lower than expected but a different number, core inflation, which excludes gas and groceries rose 3% and economists say it's increasing sharply.