US Wholesale Inflation Hits 6.3% in September, Highest Since December 2022

US wholesale inflation hit 6.3 per cent in September, its highest since December 2022, as energy prices jumped 10.8 per cent and gasoline surged 20.3 per cent. The Producer Price Index rose 1.3 per cent month-on-month, the steepest gain since March 2022, accelerating from 0.5 per cent in August. Energy drove over 80 per cent of the increase, with food prices up 1.2 per cent and services inflation also contributing. Excluding food, energy and trade services, underlying producer prices rose 0.5 per cent monthly and 5.0 per cent annually. Transportation and warehousing services jumped 3.4 per cent, signalling broadening price pressures beyond volatile fuel categories.