The US February PPI rose more than expected, and may accelerate further as the Middle East war pushes up oil prices and import transmission continues. The US Bureau of Labor Statistics said Wednesday that the February PPI surged 0.7% month-over-month, driven by the service sector, while the January increase was revised to 0.5%. The war between the US and Israel and Iran, which began at the end of February, has already pushed oil prices up by more than 40%. Economists expect the inflationary impact of the war to be reflected in the March Consumer and Producer Price Report, to be released next month. The Federal Reserve is expected to keep interest rates unchanged later today. Fed officials will submit new economic projections, and economists expect inflation forecasts to be revised upwards; financial markets expect only one rate cut by the Fed this year. (Jinshi)