Economic data showed a slight pickup in inflationary pressures which may keep the Fed on pause at their FOMC meeting this week. Both the Consumer Price Index (CPI) and the Producer Price Index (PPI) came in slightly higher than expected last week. Annualized headline CPI came in with a gain of 3.2%, while the Core CPI, which excludes food and energy, was up by 3.8%. The headline Producer Price Index saw a monthly increase of 0.6% versus expectations of a gain of 0.3%. The annualized rate of 1.6% for the PPI is the highest level since September of last year.