Wholesale Inflation Sees Biggest Increase in Six Years
November 9, 2018
U.S. wholesale prices increased by 0.6 percent in October, driven primarily by increases in the price of gas, food and chemicals. This marks the largest single-month increase in the last six years. The numbers come from the Labor Department’s producer price index (PPI), which tracks the prices that businesses pay for goods and services before they reach the consumer.
The PPI is up 2.9 percent year-over-year. The “core” PPI, which strips out the more volatile energy and food components, saw an increase of 0.5 percent for the month and is up 2.6 in the last 12 months.