Global wholesale inflation grows amid rising energy costs

Global wholesale inflation accelerated due to higher energy costs and trade disruptions from the Iran war. China's factory gate prices rose at the fastest pace since 2022, Japan's producer prices increased sharply, and the U.S. CPI is expected to hit a multi-year high. Central banks, including the Bank of Japan and the Federal Reserve, are now seen likely to raise rates this year amid concerns over prolonged inflation and economic growth.