Comment on US stocks drop after wholesale inflation comes in hotter than expected

: Traders work on the floor of the New York Stock Exchange (NYSE) on June 01, 2023 in New York City.Spencer Platt/GettyUS stocks fell on Friday after the July Producer Price Index showed higher inflation than expected.The higher inflation report was driven by services, with prices rising 0.3% in July compared to estimates for 0.2%.Friday's PPI report comes one day after the July CPI report showed lower-than-expected consumer inflation.US stocks edged lower on Friday after the Producer Price Index showed wholesale inflation picked up 0.3% in July, ahead of estimates for a 0.2% rise.The higher-than-expected inflation report was driven by services and comes just one day after the July CPI report showed cooler-than-expected inflation.