US wholesale prices jumped 6.3% annually in September, largest since 2022

The Producer Price Index rose 6.3% over the year to September, the largest annual increase since 2022, the Bureau of Labor Statistics reported. Rising energy costs, including higher gasoline prices, drove the increase in wholesale prices paid by businesses. Separately, retail sales rose 0.8% in September, according to Newsmax, as consumer spending remained resilient despite the pickup in producer-level inflation.