US Wholesale Prices Rose a Record 8.6 Percent Over the Past YearEpoch Times, United States politics | The Epoch Times

Inflation rose 8.6 percent in September compared to the previous year, the Labor Department reported Thursday, reporting it as the greatest gain since 2010. The Producer Price Index News Release summary reported “the final demand index rose 8.6 percent for the 12 months ended in September, the largest advance since 12-month data were first calculated in November 2010.” The price of wholesale goods led the inflation categories. Nearly 80 percent of the past year’s inflation was attributed to the cost of goods increasing. The increased inflation has led to higher prices for food, gas, and other items across the nation. From housing market spikes to higher auto prices, the upward trend has impacted much of the American economy. One issue impacting inflation has been the supply chain slowdown at America’s ports. President Joe Biden addressed the concern during remarks from the White House on Wednesday. The president addressed shipping issues at ports …Read More

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