U.S. wholesale prices rose last month at the fastest pace since April, suggesting that inflationary pressures remain despite a year and a half of higher interest rates. The Labor Department reported Wednesday that its producer price index — which measures inflation before it hits consumers — climbed 2.2% from a year earlier. That was up from a 2% uptick in August. On a month-to-month basis, producer prices rose 0,5% from August to September, down from 0.7% from July to August. Excluding volatile
File - Carrot fields are irrigated, Wednesday, Sept. 20, 2023, in New Cuyama, Calif. On Wednesday, the Labor Department releases producer prices data for September. File - Nicholas Hartnett, left, carries a panel as he and Brian Hoeppner install a solar array on a home in Frankfort, Ky., on July 17, 2023. On Wednesday, the Labor Department releases producer prices data for September. File - Heinz ketchup is displayed in a Target store in Upper Saint Clair, Pa., on Friday, July 7, 2023.
On a month-to-month basis, producer prices rose 0.5% from August to September, down from 0.7% from July to August. Last year, inflation reached highs not seen in four decades, prompting the Fed to raise interest rates aggressively. The central bank has boosted its benchmark rate 11 times since March 2022. Those higher borrowing costs have helped cool inflation and slow
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