U.S. February PPI surged, increasing inflationary pressure

According to Jinshi reports, the U.S. February PPI data rose more than market expectations, indicating that inflation is being transmitted from the supply side to the consumer side. The current PPI data suggests that inflation will remain above the Federal Reserve's 2% target level at least through the summer, especially considering that military conflicts with Iran may lead to high oil prices. High inflation is expected to prevent the Federal Reserve from cutting interest rates in the near term, as inflation has been above the target level for five consecutive years, and this trend may continue for another year.