August producer price index data showed diesel prices jumped 24% month over month and 77% year over year. Matt Miskin, co-chief investment strategist at Manulife John Hancock Investments, described the increase as a serious problem for the economy and markets. Wall Street did not take Wednesday’s hot consumer price index data lightly. Thursday’s PPI reading will be the last data point helping investors gauge the toll of record diesel prices in the United States ahead of the midterm elections.
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