Wholesale prices rose sharply in January, in another sign of lingering inflationary pressures in the economy that will keep high U.S. interest rates from falling much anytime soon.

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

Wholesale prices rose more than expected in January — one day after government data showed the pace of inflation for US consumers rose unexpectedly last month. The Labor Department’s Producer Price Index soared 3.