US wholesale inflation picks up slightly in sign that some price pressures remain elevated

AP Economics Writer

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