{"id":9016,"date":"2026-10-15T18:33:12","date_gmt":"2026-10-15T18:33:12","guid":{"rendered":"https:\/\/sotnews.agency\/?p=9016"},"modified":"2026-10-15T18:33:12","modified_gmt":"2026-10-15T18:33:12","slug":"us-wholesale-inflation-reaches-levels-last-seen-in-2022","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=9016","title":{"rendered":"US wholesale inflation reaches levels last seen in 2022"},"content":{"rendered":"
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People shop in a grocery store, Wednesday, in Miami, Florida. Getty Images via AFP-Yonhap<\/p>\n<\/figcaption><\/figure>\n

WASHINGTON \u2014 Wholesale inflation rose more than expected last month on a big jump in fuel costs as rising prices become a bigger economic challenge for millions of Americans, and a growing political problem for Republicans in the upcoming midterm elections.<\/p>\n

The Labor Department\u2019s producer price index \u2014 which captures inflation before it reaches consumers \u2014 soared 6.3 percent in September from a year ago, up from 5.6 percent in August and the biggest increase since December 2022, the government said Thursday.<\/p>\n

On a monthly basis, wholesale prices rose 1.3 percent from August to September, marking the largest increase since March 2022, after a 0.5 percent gain the previous month.<\/p>\n

The data indicated that rising fuel prices, particularly for the diesel fuel used by long-haul trucks and freight trains, is pushing up the cost of shipping and warehousing goods.<\/p>\n

That is starting to lift the cost of food, one place where prices appeared to have cooled this year. Wholesale food prices jumped 1.2 percent just from August to September, though they are still unchanged from a year ago.<\/p>\n

Transportation and warehousing prices climbed 3.4 percent last month and are 16 percent higher than a year ago, the report showed.<\/p>\n

\u201cThe jolt to transportation prices affects every good in the economy, since inputs to manufacturing move to factories and goods at all stages of production move from producer to wholesaler to retailer by truck, train or rail,\u201d Carl Weinberg, chief economist at High Frequency Economics, wrote in a client note. \u201cThis is how increases in energy prices \u2018bleed through\u2019 to prices of core goods.\u201d<\/p>\n

Farmers also rely on diesel to power most of their equipment, which could also push up food prices. Diesel prices averaged $6.32 a gallon nationwide Thursday, according to AAA, up from just $3.66 a year ago.<\/p>\n

Thursday\u2019s report amplifies the consumer price index released Wednesday, which also accelerated in September as gas prices jumped. But a broad range of goods and services became more expensive.<\/p>\n

Both inflation reports raise pressure on the inflation-fighters at the Federal Reserve to hike their key interest rate. Inflation has remained above the central bank\u2019s 2 percent target for five and a half years.<\/p>\n

Excluding the volatile food and energy categories, core prices rose 0.7 percent from August to September, up sharply from 0.2 percent in the previous month. Compared with a year ago, core prices rose 5 percent, up from 4.6 percent in August.<\/p>\n

More expensive energy drove most of the increase as wholesale gas prices soared more than 20 percent from August to September. But the report also showed other costs rising, including those for electricity, vegetables, shipping, and air fares.<\/p>\n

Ongoing inflation has eroded Americans’ incomes and soured most consumers on the economy. The Labor Department said Wednesday that for the first time since May, average weekly paychecks when adjusted for inflation shrank compared with the same month last year.<\/p>\n

Higher prices have taken a toll on Trump\u2019s standing with U.S. voters. A poll released this month by The Associated Press-NORC Center for Public Affairs Research found that just 17 percent of U.S. adults approve of Trump’s handling of the cost of living. And only 26 percent approve of his handling of the economy overall, a new low.<\/p>\n

The Federal Reserve, meanwhile, will hold a policy meeting in two weeks and may keep its key short-term interest rate unchanged. After two hot inflation reports this week, however, some economists now expect that it could hike rates. Officials have penciled in at least one more rate hike this year.<\/p>\n

Fed Chairman Kevin Warsh speaks at an international economic conference late Thursday in Bangkok and his remarks will be closely watched for any hints of whether he supports a rate hike this month.<\/p>\n

The Fed uses higher rates to slow borrowing and spending in a bid to lower inflation.<\/p>\n

That has not proved effective as hoped this year.<\/p>\n

After a rate hike in September, the U.S reported Thursday that retail sales rose faster than expected during the same month. A chunk of that spending, however, was at gas stations, where Americans are paying more to fill up their cars.<\/p>\n

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People shop in a grocery store, Wednesday, in Miami, Florida. Getty Images via AFP-Yonhap WASHINGTON \u2014 Wholesale inflation rose more than expected last month on a big jump in fuel costs as rising prices become a bigger economic challenge for millions of Americans, and a growing political problem for Republicans in the upcoming midterm elections….<\/p>\n","protected":false},"author":1,"featured_media":9017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_templately_pack_id":"","_templately_imported_at":"","_templately_source":"","_templately_import_session_id":"","footnotes":""},"categories":[16,14],"tags":[],"class_list":["post-9016","post","type-post","status-publish","format-standard","has-post-thumbnail","category-korea","category-trending-news"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t