The service industry drives US PPI data to a three-year high.

The data released on Thursday showed that the PPI rose by 0.9% compared to the previous month and by 3.3% compared to the same period last year. Among them, the cost in the service industry increased by 1.1%, marking the largest increase since March 2022; within the service industry, wholesale and retail profit margins surged by 2%, with machinery and equipment wholesale leading the way. The prices of goods excluding food and energy rose by 0.4%. The report indicates that despite weak demand in the first half of this year, businesses are adjusting the pricing of goods and services to help offset the costs associated with increased tariffs by the United States. How much of these tariff costs businesses pass on to consumers will be a key factor affecting future interest rate trends.