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Higher Fuel And Food Costs Drive Wholesale Prices Up
There was a 0.8 percent increase in wholesale prices from August to September, the Bureau of Labor Statistics just reported.
Much of the gain was due to higher costs for fuel and food. Without those two volatile sectors, prices went up 0.2 percent.
As Bloomberg News says, the news could stoke inflation fears: "Wholesale prices in the U.S. rose more than forecast in September, boosted by gasoline, food and trucks, indicating inflationary pressures continue to bubble up the production line."
Over the past year, wholesale prices have risen 6.9 percent.
The bureau is due to report on the September change in consumer prices Wednesday at 8:30 a.m. ET.