Wholesale inflation reaches levels last seen in 2022
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.The Labor Department’s producer price index — which captures inflation before it reaches consumers — soared 6.3% in September from a year ago, up from 5.6% in August and the biggest increase since December 2022, the government said Thursday.
On a monthly basis, wholesale prices rose 1.3% from August to September, marking the largest increase since March 2022, after a 0.5% gain the previous month.
