WASHINGTON, DC – U.S. producer prices rose 0.4% in October, the biggest jump in six months, reflecting a surge in energy costs.
The Labor Department says the October increase in its producer price index, which measures price pressures before they reach consumers, followed a 0.3% decrease in September.
Core prices, which exclude volatile food and energy costs, rose 0.3% in October. Over the past year, wholesale prices are up a modest 1.1% while core prices have risen 1.6%.
On Wednesday, the government reported that consumer prices rose 0.4% in October, the fastest pace since March, with that gain also driven by a surge in energy prices.