Wholesale Inflation Continue to Rise at 0.5% In September, Much More Than Expected

Wholesale prices in September surged more than anticipated, underscoring escalating inflationary pressures in the U.S. economy. The producer price index shot up by 0.5%, significantly surpassing the predicted 0.3%, according to the Labor Department. This inflationary trend was predominantly fueled by goods prices, notably with gasoline prices skyrocketing by 5.4%. Despite the Federal Reserve’s aggressive interest rate hikes to curb inflation, these mounting pressures show no sign of abating.