Wholesale Prices Jump More Than Expected in September, Fueling Ongoing Inflation Concerns

Wholesale inflation rose 0.5% in September, exceeding expectations and underscoring persistent inflation.

On an annual basis, wholesale prices rose 8.5% in September, the largest increase since 1981.

Core wholesale prices, excluding food and energy, also rose more than expected at 0.4% for the month.

The PPI data suggests the Fed still has more work to do in taming inflation with further interest rate hikes.

The hotter than expected PPI report comes ahead of Thursday's consumer price index release, which will provide insight into inflation at the consumer level.