<p>作者：Jeffry Bartash</p>
<p>生產者價格指數在過去 12 個月中上漲了 6%</p>
<p>批發價格的上漲信號顯示通脹將進一步上升。</p>
<p>4 月份消費者價格的回顧顯示，通脹攀升至三年來的最高點。現在最新的批發價格數據顯示，未來一兩個月的通脹可能會更高。</p>
<p>政府週三表示，生產者價格指數在 4 月份上漲了 1.4%，這是四年來的最大漲幅。</p>
<p>這一增幅遠超華爾街預測的 0.5%，也是連續第六次大幅上漲。</p>
<p>正如預期的那樣，油價上漲是主要的麻煩來源，但並不是唯一的通脹來源。</p>
<p>在過去一年中，批發價格上漲了 6.0%，高於上個月的 4.3%。這是自 2022 年底以來的最高水平。</p>
<p>批發價格是通脹首先顯現的地方，這些價格往往暗示消費者支付的未來變化。</p>
<p>消費者價格在今年激增，使通脹率達到 3.8%，是自 2023 年以來的最高水平。通脹可能很快超過 4%，然後才會回落，前提是伊朗戰爭結束，油價回落。</p>
<p>隨着通脹遠離美聯儲 2% 的目標，中央銀行將面臨很大壓力，難以迅速降息，即使新任特朗普任命的凱文·沃什即將成為主席。</p>
<p>關鍵細節：所謂的核心批發價格在 4 月份上漲了 0.5%，增幅雖小但仍然顯著，且高於預期。</p>
<p>核心價格的 12 個月增幅從 3.7% 上升至三年來的最高點 4.4%。</p>
<p>核心利率剔除了波動較大的食品、能源和貿易相關成本，更準確地反映了批發層面的通脹趨勢。</p>
<p>大局：自疫情以來，通脹一直高企，違背了美聯儲將其降低至疫情前低水平的努力。</p>
<p>通脹可能會在伊朗衝突結束和油價回落之前，持續高於 3%。自戰爭開始以來，油價上漲了 55%。</p>
<p>頑固的通脹也可能使美聯儲高級官員在今年不願降息，這對希望降低抵押貸款利率的房主來説尤其痛苦。</p>
<p>市場反應：道瓊斯工業平均指數 DJIA 和標準普爾 500 指數 SPX 在週三交易中預計將低開。PPI 報告發布後，股市下跌。</p>
<p>-Jeffry Bartash</p>
<p>此內容由 MarketWatch 創作，MarketWatch 由道瓊斯公司運營。MarketWatch 與道瓊斯新聞通訊和《華爾街日報》獨立出版。</p>
<p>（完）道瓊斯新聞通訊</p>
<p>05-13-26 0843ET</p>

標普 500 指數

道瓊斯指數

道瓊斯指數 ETF - SPDR

標普 500 ETF - iShares

標普 500 指數股票型基金

標普 500 ETF - Vanguard

<p>批發價格在四月份激增了 1.4%，這是四年來的最大增幅，12 個月的漲幅為 6.0%。這預示着進一步的通貨膨脹，可能很快超過 4%。核心批發價格也上漲了 0.5%，達到了三年來的最高點 4.4%。持續的伊朗衝突和上漲的油價是導致通貨膨脹持續的主要因素，這使得美聯儲降低利率的能力變得複雜。市場反應顯示，在生產者價格指數（PPI）報告發布後，道瓊斯指數和標普 500 指數均出現下跌</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>生產者價格指數在過去 12 個月中上漲了 6%</p>
</div><p>Wholesale price increases signal a further rise in inflation.</p>
<div class="lb-trans"><p>批發價格的上漲信號顯示通脹將進一步上升。</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 月份消費者價格的回顧顯示，通脹攀升至三年來的最高點。現在最新的批發價格數據顯示，未來一兩個月的通脹可能會更高。</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>政府週三表示，生產者價格指數在 4 月份上漲了 1.4%，這是四年來的最大漲幅。</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>這一增幅遠超華爾街預測的 0.5%，也是連續第六次大幅上漲。</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>正如預期的那樣，油價上漲是主要的麻煩來源，但並不是唯一的通脹來源。</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>在過去一年中，批發價格上漲了 6.0%，高於上個月的 4.3%。這是自 2022 年底以來的最高水平。</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>批發價格是通脹首先顯現的地方，這些價格往往暗示消費者支付的未來變化。</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>消費者價格在今年激增，使通脹率達到 3.8%，是自 2023 年以來的最高水平。通脹可能很快超過 4%，然後才會回落，前提是伊朗戰爭結束，油價回落。</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>隨着通脹遠離美聯儲 2% 的目標，中央銀行將面臨很大壓力，難以迅速降息，即使新任特朗普任命的凱文·沃什即將成為主席。</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>關鍵細節：所謂的核心批發價格在 4 月份上漲了 0.5%，增幅雖小但仍然顯著，且高於預期。</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>核心價格的 12 個月增幅從 3.7% 上升至三年來的最高點 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>核心利率剔除了波動較大的食品、能源和貿易相關成本，更準確地反映了批發層面的通脹趨勢。</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：自疫情以來，通脹一直高企，違背了美聯儲將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>通脹可能會在伊朗衝突結束和油價回落之前，持續高於 3%。自戰爭開始以來，油價上漲了 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>頑固的通脹也可能使美聯儲高級官員在今年不願降息，這對希望降低抵押貸款利率的房主來説尤其痛苦。</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>市場反應：道瓊斯工業平均指數 DJIA 和標準普爾 500 指數 SPX 在週三交易中預計將低開。PPI 報告發布後，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>此內容由 MarketWatch 創作，MarketWatch 由道瓊斯公司運營。MarketWatch 與道瓊斯新聞通訊和《華爾街日報》獨立出版。</p>
</div><p>(END) Dow Jones Newswires</p>
<div class="lb-trans"><p>（完）道瓊斯新聞通訊</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

- 生產者價格指數在四月上漲 1.4%，為四年來最大增幅。
- 批發價格在過去一年上漲 6%，消費者通脹率攀升至 3.8%。
- 高企的通脹迫使美聯儲難以迅速降息，市場反應疲軟。

批發價格達到四年來的最高水平，表明未來幾個月通脹可能會進一步加劇