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September producer prices were expected to increase 0.6% month over month and 5.5% annually, according to the consensus estimate by Dow Jones.
Wholesale inflation rose more quickly than expected last month on a big jump in fuel costs, a sign that stubbornly rising prices remain an economic challenge for consumers and a political problem for Republicans in the midterm elections
The producer price index rose 1.3% in September — the largest monthly jump since 2022 — driven largely by energy costs.