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The rise in food prices has pushed the wholesale inflation in the United States to accelerate unexpectedly. The prospect of interest rate cuts next year is uncertain. The wholesale inflation rate in the United States unexpectedly rose in November, and the soaring egg price masked the moderate impact of price increases in other regions. According to data released by the Bureau of Labor Statistics on Thursday, the producer price index (PPI) rose by 0.4% month-on-month, the biggest increase since June, and economists surveyed by Bloomberg expected a median of 0.2%. PPI increased by 3% compared with the same period of last year, the biggest increase since the beginning of 2023. The core PPI excluding food and energy increased by 0.2% from the previous month and 3.4% from the same period of last year. The CPI report released on Wednesday showed that the core inflation rate in the United States remained firm for the fourth consecutive month. This series of data brought uncertainty to the outlook of prices and interest rates next year, especially when Trump threatened to raise import tariffs after taking office. Economists pay close attention to the PPI report because several of its breakdown data will affect the personal consumption expenditure price index (PCE) that the Federal Reserve is concerned about. Although PCE data will not be released before the Fed policy meeting next week, central bank officials will have a good understanding of the data according to CPI and PPI reports. The market generally expects the Federal Reserve to cut interest rates by 25 basis points next week, but the pace of interest rate cuts is expected to slow down next year.WTI crude oil futures fell below $70/barrel, down 0.43% in the day; Brent crude oil fell 0.43% in the day to $73.05/barrel.European Central Bank President Lagarde: The impact of the US presidential election is still uncertain. European Central Bank President Lagarde: The impact of the US presidential election is still uncertain.

European Central Bank President Lagarde: The uncertainty brought by the next US administration is not within the forecast benchmark.Market news: the agency said that the number of people applying for unemployment benefits in the United States jumped to the highest level in two months, but it was still at a low level.European Central Bank President Lagarde: The government should focus on reforms that promote growth.

CHRISTIAN MEUNIER was appointed as the chairman of NISSAN Americas.Government statement: British Prime Minister Stamer will attend the informal meeting of EU leaders in Brussels on February 3rd.After the release of US economic data, traders increased their bets on the Fed's interest rate cut next year, and US short-term interest rate futures narrowed and fell earlier.