US wholesale prices up 0.4% in September as food costs surge
WASHINGTON (AP) — U.S. wholesale prices jumped 0.4% in September as food costs rose by the largest amount since May.
The Labor Department said Wednesday that the September increase in its producer price index, which measures inflation before it reached the consumer, followed a 0.3% rise in August and a 0.6% surge in July which had been the biggest monthly gain since late 2018.
The 0.4% September rise was bigger than economists had been expecting and reflected a 1.2% increase in food costs, the sharpest rise since a 5.6% spike in May, as coronavirus-related shutdowns at food processing plants triggered shortages.
For September energy prices fell for a second month, dropping 0.3% after a 0.1% dip in August.
The government had reported Tuesday that inflation at the retail level was up 0.2% in September, just half the August gain, even though the price of used cars jumped by the largest amount in more than a half-century.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Hundreds expected to travel via the BR Airport on Thanksgiving Eve
La. falls back to 'revised' Phase 2 on Wednesday; see the restrictions...
Spike in COVID-19 cases, holiday season results in increased demand for testing
Business teams up with local officials to hand out 800 Thanksgiving turkeys
School officials reviewing phase 2 restrictions over Thanksgiving break
Catholic freshman Daniel Beale has been thrown into super stardom thanks to...
Can Jameis Winston lead this Saints offense?; Fantasy Focus Week 11 with...
Fans' Choice Award Winner 2020: Week 7 - Baylor Langlois
Clay Polk is Central football's master of mystery
Late defensive stands and timely passing give Catholic 27-21 win over Acadiana