https://www.marketwatch.com/story/wholesale-prices-rise-for-first-time-in-three-months-and-show-inflation-still-raging-11665578458?mod=home-page
Producer price index climbs 0.4% in September — double the Wall Street forecast
The numbers: U.S. wholesale prices rose 0.4% in September to mark the first increase in three months, signaling little progress in the Federal Reserve’s fight to vanquish high inflation.
Economists polled by The Wall Street Journal had forecast a 0.2% gain. Wholesale prices had fallen in August and July entirely because of declining gasoline prices.
The increase in wholesale prices over the past year, meanwhile, fell slightly to 8.5% from 8.7% in the prior month. Inflation is still running near a 40-year high, however.
A separate measure of wholesale prices that strips out volatile food and energy costs also increase 0.4% last month, the government said Wednesday. That was a larger than expected.
The increase in these so-called core prices over the past year was flat at 5.6%.
The change in wholesale prices offers clues on how much inflation is increasing. The consumer price index due on Thursday gives a better idea of how much the cost of living is going up for U.S. households.
Big picture: The Fed’s belated but aggressive strategy to raise interest rates to reduce inflation hasn’t shown much effect so far. Prices are still rising rapidly.