U.S. wholesale prices came in hotter than expected last month with progress against inflation appearing to have stalled, further undercutting expectations for lower interest rates this year. Economists and financial markets fear President Donald Trump’s policies will push inflation higher yet.

Wholesale prices rose sharply in January in another sign that lingering inflationary pressures in the economy will keep high U.S. interest rates from falling much anytime soon. The producer-price index increased 0.

US wholesale inflation remained stubbornly elevated last month, another sign that even higher prices could be ahead for American shoppers.