US wholesale inflation reaches levels last seen in 2022

WASHINGTON — Wholesale inflation rose more than expected last month on a big jump in fuel costs as rising prices become a bigger economic challenge for millions of Americans, and a growing political problem for Republicans in the upcoming midterm elections. The Labor Department’s producer price index — which captures inflation before it reaches consumers — soared 6.3 percent in September from a year ago, up from 5.6 percent in August and the biggest increase since December 2022, the government said Thursday. On a monthly basis, wholesale prices rose 1.3 percent from August to September, marking the largest increase since March 2022, after a 0.5 percent gain the previous month. The data indicated that rising fuel prices, particularly for the diesel fuel used by long-haul trucks and freight trains, is pushing up the cost of shipping and warehousing goods. That is starting to lift the cost of food, one place where prices appeared to have cooled this year. Wholesale food prices jumped 1.2 percent just from August to September, though they are still unchanged from a year ago. Transport