US wholesale prices rose record 8.6% over 12 months

Food and MoneyWASHINGTON (AP) — Inflation at the wholesale level rose 8.6% in September compared to a year ago, the largest advance since the 12-month change was first calculated in 2010.

The Labor Department reported Thursday that the increase in its producer price index, which measures inflationary pressures before they reach consumers, was 0.5% for September compared to a 0.7% gain in August. The 8.6% rise for the 12 months ending in September compared to an 8.3% increase for the 12 months ending in August.

The jump in inflation this year reflects higher prices for food and energy and a number of other items from furniture to autos as the pandemic has snarled supply chains and demand has outstripped supply.

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