Wholesale inflation jumped last month by most in four years as gas prices soared
Wholesale inflation rose more quickly than expected in September, driven by a sharp surge in gas and fuel costs. The Labor Department reported that wholesale prices jumped 6.3% annually, marking the largest gain since 2022 and reaching its highest level in four years. Businesses were hit even harder by inflation last month than consumers. The spike adds fuel to economic fears and creates a growing political problem for Republicans ahead of the midterm elections as rising costs continue to challenge millions of Americans.
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- ✓ Wholesale inflation jumped in September by the most in four years, driven by a big jump in gas and fuel costs.
- ✓ Wholesale prices jumped 6.3% annually in September, marking the biggest gain since 2022.
- ✓ Businesses were hit even harder by inflation last month than consumers.
- ✓ The Labor Department released the producer price index data showing the increase.
What changed
Official government data revealed that annual wholesale inflation accelerated to 6.3% in September, fueled by soaring energy costs.
Live updates
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US Wholesale Inflation Jumps Most in Four Years
Wholesale inflation rose more quickly than expected in September, driven by a sharp surge in gas and fuel costs. The Labor Department reported that wholesale prices jumped 6.3% annually, marking the largest gain since 2022 and reaching its highest level in four years. Businesses were hit even harder by inflation last month than consumers. The spike adds fuel to economic fears and creates a growing political problem for Republicans ahead of the midterm elections as rising costs continue to challenge millions of Americans.
Why it matters
Producer price data captures inflation before it reaches retail consumers, serving as an early indicator of broader price trends throughout the economy. Persistent inflation pressures complicate the economic outlook for households and lawmakers alike. As fuel prices vacuum up more dollars, market participants monitor how long consumers can sustain their spending resilience.
What is confirmed
- Wholesale inflation jumped in September by the most in four years, driven by a big jump in gas and fuel costs.
- Wholesale prices jumped 6.3% annually in September, marking the biggest gain since 2022.
- Businesses were hit even harder by inflation last month than consumers.
- The Labor Department released the producer price index data showing the increase.
What to watch next
- Upcoming consumer price reports to see how much wholesale cost pressures pass through to retail shoppers
- Further developments in fuel markets and gas prices
- Political fallout and voter response regarding inflation during the midterm elections
confidence 100%Sources used for this update (13)
- CNN — Wholesale inflation jumped in September by most in four years
- AP News — Wholesale inflation jumped last month by most in four years as gas prices soared
- NBC News — Businesses were hit even harder by inflation last month than consumers
- CNBC — Wholesale prices jumped 6.3% annually in September, biggest gain since 2022
- WIVB News 4 — Producer prices see largest jump in four years
- AL.com — Wholesale prices hit highest level in 4 years thanks to fuel costs
- economictimes.indiatimes.com — US Wholesale inflation jumped last month by most in four ...
- www.bostonherald.com — Wholesale inflation jumped last month by most in four years
- www.dailysabah.com — US consumers withstand rising prices, but for how long?
- www.briefs.co — Britain's Grid Strains as Northern Wind Can't Reach Southern Demand
- www.independent.co.uk — Wholesale inflation jumped last month by most in four years ...
- vinnews.com — Wholesale Inflation Jumped Last Month By Most In Four Years ...
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