US producer prices up 0.4% in October

Business

FILE – In this Oct. 15, 2019, file photo gala apples are moved along a conveyor system after being sorted as they move to be prepared for shipping in a packing house in Yakima, Wash. On Thursday, Nov. 14, the Labor Department reports on U.S. producer price inflation in October. (AP Photo/Elaine Thompson, File)

WASHINGTON (AP) — U.S. producer prices rose 0.4% in October, the biggest jump in six months, reflecting a surge in energy costs.

The Labor Department says the October increase in its producer price index, which measures price pressures before they reach consumers, followed a 0.3% decrease in September.

Core prices, which exclude volatile food and energy costs, rose 0.3% in October. Over the past year, wholesale prices are up a modest 1.1% while core prices have risen 1.6%.

On Wednesday, the government reported that consumer prices rose 0.4% in October, the fastest pace since March, with that gain also driven by a surge in energy prices.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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