Wholesale prices rise 0.4% on food prices
WASHINGTON — Prices at the wholesale level climbed 0.4 percent in October and 2.8 percent over the past year, the biggest annual jump in more than five years and a sign that an improving economy may finally be reviving inflationary pressures.
The Labor Department says last month’s increase in the producer price index, which measures inflation pressures before they reach the consumer, matched the 0.4 percent rise in September. The 12-month increase was driven by a 7.6 percent jump in energy prices.
But energy prices were unchanged from September to October. Food prices rose 0.5 percent in October, the most since June.