Wholesale Inflation Picks Up Slightly In Sign That Some Price Pressures Remain Elevated

WASHINGTON (AP) — Wholesale prices in the United States rose last month, remaining low but suggesting that the American economy has yet to completely vanquish inflationary pressure.

The producer price index — which tracks inflation before it hits consumers — rose 0.2% from September to October, up from a 0.1% gain the month before.

Compared with a year earlier, wholesale prices were up 2.4%, accelerating from a year-over-year gain 1.9% in September.

An increase in services prices drove the October increase.

Since peaking in mid-2022, inflation has fallen more or less steadily.

But average prices are still nearly 20% higher than they were three years ago