Wholesale Prices See Biggest Monthly Jump Since April as Inflation Remains Elevated

U.S. wholesale prices rose 0.5% from August to September, the biggest monthly gain since April.

Wholesale prices were up 2.2% in September compared to a year ago, the largest annual increase since April.

Energy and food prices drove the increases, while core inflation rose 0.3% month-over-month.

Inflationary pressures remain despite the Fed's interest rate hikes over the past year and a half.

Wholesale price increases could signal that consumer inflation will remain elevated in coming months.