Economy / Markets
Wholesale inflation climbs most since 2022 as energy costs surge
US producer prices rose 1.3 percent in September from August and 6.3 percent over the year, the fastest monthly gain since March 2022 and the highest annual rate since December 2022, the Bureau of Labor Statistics reported. Economists had expected about 0.5 percent and 5.3 percent. Energy accounted for over 80 percent of a record 2.6 percent jump in goods prices, with gasoline up 20.3 percent, and core prices excluding food and energy climbed 0.7 percent, lifting their annual rate to 5.0 percent. Retail sales slowed to 0.8 percent for the month.