Wholesale Inflation Hits 4-Year High
Wholesale inflation rises to 4-year high despite October slowdown.
In brief
Wholesale inflation rises to 4-year high despite October slowdown. The 12-month wholesale inflation rate reached 6.5% in October, the highest since November 2022, as energy and transportation costs drive price pressures. Originally reported by Pymnts.
October PPI Data
The Producer Price Index for final demand rose 0.3% in October after advancing 1.4% in September and 0.4% in August.
Final Demand Goods and Services
Prices for final demand goods increased 0.5%, while final demand services rose 0.2% in October.
12-Month Inflation Rate
The 12-month wholesale inflation rate reached 6.5% in October, the highest since November 2022.
Economic Impact
Energy and transportation costs continue to drive inflationary pressures across the economy.
The bottom line
The 12-month wholesale inflation rate reached 6.5% in October, the highest since November 2022, as energy and transportation costs drive price pressures.
