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US wholesale inflation jumped in September to its highest level in more than four years, marking the second hotter-than-expected inflation reading this week and adding to concerns about the economy just weeks before the midterm elections.
US wholesale inflation accelerated sharply in September, reaching its highest annual level in more than four years and reinforcing concerns that price pressures remain entrenched across the economy.The Producer Price Index (PPI) rose 1.3% month over month and 6.3% annually, according to Bureau of L…
Wholesale inflation rose unexpectedly in September due to significant increases in fuel costs and other goods. The Labor Department reported a 6.3% rise in the producer price index compared to last year. Month-to-month wholesale prices increased by 1.3%, marking the largest monthly jump since March 2022. Core prices…