Inflation at the wholesale level rose more than expected in September as prices for everyday necessities remain at a multi-decade high, squeezing businesses and millions of American households.
Markets are worried the Fed is going too far
A closely watched measure of inflation in the United States is expected to tick higher in September even as the Federal Reserve moves to fight rising prices at its most aggressive pace in decades. Wall Street is worried that yet another high reading on the Consumer Price Index will prompt another massive interest rate increase and inflict more pain on markets and the US economy.
PepsiCo hikes forecast after higher pricing helps boost revenue
PepsiCo hiked its forecast for the year Wednesday as higher prices helped lift the snack and beverage maker’s revenue for the third quarter.