<p>作者：Jeffry Bartash</p>
<p>生产者价格指数在过去 12 个月中上涨了 6%</p>
<p>批发价格的上涨信号显示通胀将进一步上升。</p>
<p>4 月份消费者价格的回顾显示，通胀攀升至三年来的最高点。现在最新的批发价格数据显示，未来一两个月的通胀可能会更高。</p>
<p>政府周三表示，生产者价格指数在 4 月份上涨了 1.4%，这是四年来的最大涨幅。</p>
<p>这一增幅远超华尔街预测的 0.5%，也是连续第六次大幅上涨。</p>
<p>正如预期的那样，油价上涨是主要的麻烦来源，但并不是唯一的通胀来源。</p>
<p>在过去一年中，批发价格上涨了 6.0%，高于上个月的 4.3%。这是自 2022 年底以来的最高水平。</p>
<p>批发价格是通胀首先显现的地方，这些价格往往暗示消费者支付的未来变化。</p>
<p>消费者价格在今年激增，使通胀率达到 3.8%，是自 2023 年以来的最高水平。通胀可能很快超过 4%，然后才会回落，前提是伊朗战争结束，油价回落。</p>
<p>随着通胀远离美联储 2% 的目标，中央银行将面临很大压力，难以迅速降息，即使新任特朗普任命的凯文·沃什即将成为主席。</p>
<p>关键细节：所谓的核心批发价格在 4 月份上涨了 0.5%，增幅虽小但仍然显著，且高于预期。</p>
<p>核心价格的 12 个月增幅从 3.7% 上升至三年来的最高点 4.4%。</p>
<p>核心利率剔除了波动较大的食品、能源和贸易相关成本，更准确地反映了批发层面的通胀趋势。</p>
<p>大局：自疫情以来，通胀一直高企，违背了美联储将其降低至疫情前低水平的努力。</p>
<p>通胀可能会在伊朗冲突结束和油价回落之前，持续高于 3%。自战争开始以来，油价上涨了 55%。</p>
<p>顽固的通胀也可能使美联储高级官员在今年不愿降息，这对希望降低抵押贷款利率的房主来说尤其痛苦。</p>
<p>市场反应：道琼斯工业平均指数 DJIA 和标准普尔 500 指数 SPX 在周三交易中预计将低开。PPI 报告发布后，股市下跌。</p>
<p>-Jeffry Bartash</p>
<p>此内容由 MarketWatch 创作，MarketWatch 由道琼斯公司运营。MarketWatch 与道琼斯新闻通讯和《华尔街日报》独立出版。</p>
<p>（完）道琼斯新闻通讯</p>
<p>05-13-26 0843ET</p>

标普 500 指数

道琼斯指数

道琼斯指数 ETF - SPDR

标普 500 ETF - iShares

标普 500 ETF - SPDR

标普 500 ETF - Vanguard

<p>批发价格在四月份激增了 1.4%，这是四年来的最大增幅，12 个月的涨幅为 6.0%。这预示着进一步的通货膨胀，可能很快超过 4%。核心批发价格也上涨了 0.5%，达到了三年来的最高点 4.4%。持续的伊朗冲突和上涨的油价是导致通货膨胀持续的主要因素，这使得美联储降低利率的能力变得复杂。市场反应显示，在生产者价格指数（PPI）报告发布后，道琼斯指数和标普 500 指数均出现下跌</p>

<p>By Jeffry Bartash</p>
<div class="lb-trans"><p>作者：Jeffry Bartash</p>
</div><p>PPI climbs 6% in the past 12 months</p>
<div class="lb-trans"><p>生产者价格指数在过去 12 个月中上涨了 6%</p>
</div><p>Wholesale price increases signal a further rise in inflation.</p>
<div class="lb-trans"><p>批发价格的上涨信号显示通胀将进一步上升。</p>
</div><p>A recap of consumer prices in April showed inflation climbing to a three-year high. Now the latest look at wholesale prices points to even higher inflation in the next month or two.</p>
<div class="lb-trans"><p>4 月份消费者价格的回顾显示，通胀攀升至三年来的最高点。现在最新的批发价格数据显示，未来一两个月的通胀可能会更高。</p>
</div><p>The producer price index jumped 1.4% in April, the government said Wednesday, to mark the biggest rise in four years.</p>
<div class="lb-trans"><p>政府周三表示，生产者价格指数在 4 月份上涨了 1.4%，这是四年来的最大涨幅。</p>
</div><p>The increase blow past Wall Street's 0.5% forecast and it was also the sixth large increase in a row.</p>
<div class="lb-trans"><p>这一增幅远超华尔街预测的 0.5%，也是连续第六次大幅上涨。</p>
</div><p>Higher oil prices were the chief source of trouble as expected, but it wasn't the only source of inflation.</p>
<div class="lb-trans"><p>正如预期的那样，油价上涨是主要的麻烦来源，但并不是唯一的通胀来源。</p>
</div><p>Over the past year, wholesale prices have climbed 6.0%, up from 4.3% in the prior month. That's the highest level since the end of 2022.</p>
<div class="lb-trans"><p>在过去一年中，批发价格上涨了 6.0%，高于上个月的 4.3%。这是自 2022 年底以来的最高水平。</p>
</div><p>Wholesale prices are where inflation shows up first, and these prices tend to hint at future changes in what consumers pay.</p>
<div class="lb-trans"><p>批发价格是通胀首先显现的地方，这些价格往往暗示消费者支付的未来变化。</p>
</div><p>Consumer prices have surge this year to push the rate of inflation to 3.8%, the highest level since 2023. Inflation could soon top 4% before receding, and only then if the Iran war ends and oil prices come back down.</p>
<div class="lb-trans"><p>消费者价格在今年激增，使通胀率达到 3.8%，是自 2023 年以来的最高水平。通胀可能很快超过 4%，然后才会回落，前提是伊朗战争结束，油价回落。</p>
</div><p>With inflation moving away from the Federal Reserve's 2% goal, the central bank will be hard- pressed to cut interest rates soon, even with new Trump appointee Kevin Warsh set to become chairman.</p>
<div class="lb-trans"><p>随着通胀远离美联储 2% 的目标，中央银行将面临很大压力，难以迅速降息，即使新任特朗普任命的凯文·沃什即将成为主席。</p>
</div><p>Key details: So-called core wholesale prices rose a lesser but still stiff 0.5% in April. IT was also above forecast</p>
<div class="lb-trans"><p>关键细节：所谓的核心批发价格在 4 月份上涨了 0.5%，增幅虽小但仍然显著，且高于预期。</p>
</div><p>The 12-month increase in core prices moved up to a three-year high of 4.4% from 3.7%.</p>
<div class="lb-trans"><p>核心价格的 12 个月增幅从 3.7% 上升至三年来的最高点 4.4%。</p>
</div><p>The core rate strips out volatile food, energy and trade-related costs and gives a more accurate view of inflation trends at the wholesale level.</p>
<div class="lb-trans"><p>核心利率剔除了波动较大的食品、能源和贸易相关成本，更准确地反映了批发层面的通胀趋势。</p>
</div><p>Big picture: Inflation has been running high since the pandemic, defying efforts by the Fed to reduce it to low prepandemic levels.</p>
<div class="lb-trans"><p>大局：自疫情以来，通胀一直高企，违背了美联储将其降低至疫情前低水平的努力。</p>
</div><p>Inflation is likely to remain well above 3% until the Iran conflict winds down and oil prices recede. The cost of oil is up 55% since the start of the war.</p>
<div class="lb-trans"><p>通胀可能会在伊朗冲突结束和油价回落之前，持续高于 3%。自战争开始以来，油价上涨了 55%。</p>
</div><p>Stubborn inflation could also discourage senior Fed officials from cutting interest rates this year, an outcome that would be especially painful for homeowners hoping for lower mortgage rates.</p>
<div class="lb-trans"><p>顽固的通胀也可能使美联储高级官员在今年不愿降息，这对希望降低抵押贷款利率的房主来说尤其痛苦。</p>
</div><p>Market reaction: The Dow Jones Industrial Average DJIA and S&amp;P 500 SPX were set to open lower in Wednesday trading. Stocks fell after the PPI report.</p>
<div class="lb-trans"><p>市场反应：道琼斯工业平均指数 DJIA 和标准普尔 500 指数 SPX 在周三交易中预计将低开。PPI 报告发布后，股市下跌。</p>
</div><p>-Jeffry Bartash</p>
<div class="lb-trans"><p>-Jeffry Bartash</p>
</div><p>This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.</p>
<div class="lb-trans"><p>此内容由 MarketWatch 创作，MarketWatch 由道琼斯公司运营。MarketWatch 与道琼斯新闻通讯和《华尔街日报》独立出版。</p>
</div><p>(END) Dow Jones Newswires</p>
<div class="lb-trans"><p>（完）道琼斯新闻通讯</p>
</div><p>05-13-26 0843ET</p>
<div class="lb-trans"><p>05-13-26 0843ET</p>
</div>

Wholesale prices jump to 4-year high and point to even more inflation in the next few months

- 生产者价格指数在四月上涨 1.4%，为四年来最大增幅。
- 批发价格在过去一年上涨 6%，消费者通胀率攀升至 3.8%。
- 高企的通胀迫使美联储难以迅速降息，市场反应疲软。

批发价格达到四年来的最高水平，表明未来几个月通胀可能会进一步加剧