Business, Finance & Tech
Wholesale Inflation Surges to Highest Level in More Than Four Years
U.S. wholesale inflation surged in September to its highest level in more than four years, raising renewed concerns about affordability as the midterm elections approach.
According to data released Thursday by the Bureau of Labor Statistics, the Producer Price Index (PPI) rose 1.3% from August and 6.3% compared with a year earlier. Economists had expected a much smaller increase of 0.5% for the month.
Energy prices accounted for much of the increase, with higher costs tied in part to geopolitical conflicts, including the war with Iran. However, underlying inflation pressures also increased. Core wholesale prices, which exclude food and energy, rose 0.7% in September.
Wholesale inflation measures the prices businesses receive for goods and services and can signal future price increases for consumers.
A separate Commerce Department report showed retail sales growth slowed in September. Sales increased 0.8% for the month, down from a 1.3% gain in August. Excluding gas station purchases, retail sales rose just 0.2%.
Economists say higher gasoline prices are putting additional pressure on household budgets, while inflation-adjusted spending showed less momentum heading into the holiday shopping season.
The latest reports put renewed attention on affordability, an issue expected to play a significant role for voters in the upcoming midterm elections.
By: NBC Palm Springs
October 15, 2026
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