Wholesale inflation in the United States shot up 10% last month from a year earlier — another sign that inflationary pressures remain intense at all levels of the economy.
The Labor Department said Tuesday that is producer price index — which tracks inflation before it hits consumers — rose 0.8% from December. The increases were in line with economists’ forecasts.
The report did not include price changes after Feb. 15, missing a spike in energy prices when Russia invaded Ukraine nine days later.
Excluding volatile food and energy prices, wholesale inflation rose 0.2% from January and 8,4% from February 2021.
Last week, the government reported that surging gas, food and housing costs pushed consumer prices up 7.9% in February from a year earlier — sharpest spike since 1982.
Inflation, dormant for four decades, re-emerged last year …
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