Whole­sale prices in­creased in Oc­to­ber

The Washington Post - - ECONOMY & BUSINESS -

U.S. whole­sale prices rose by the most in six years last month, led higher by more ex­pen­sive gas, food and chem­i­cals.

The La­bor Depart­ment said Fri­day that the pro­ducer price in­dex — which mea­sures price in­creases be­fore they reach the con­sumer — leaped 0.6 per­cent in Oc­to­ber, af­ter a smaller 0.2 per­cent rise in Septem­ber. Pro­ducer prices in­creased 2.9 per­cent from a year ear­lier.

Ex­clud­ing the volatile food and en­ergy cat­e­gories, core whole­sale prices rose 0.5 per­cent in Oc­to­ber and 2.6 per­cent from a year ear­lier.

De­spite last month’s rise, the fig­ures sug­gest in­fla­tion pres­sures are mostly in check. The year-over-year price in­crease is lower than in the sum­mer, when it topped 3 per­cent. Plus, oil prices de­clined in Oc­to­ber, which will prob­a­bly re­duce gas costs in the com­ing months.

Fri­day’s re­port showed that whole­sale gas prices rose 7.6 per­cent in Oc­to­ber and food costs in­creased 1 per­cent. The price of new cars fell 0.7 per­cent, as au­tomak­ers in­tro­duced their new car mod­els last month.

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