WASHINGTON, D.C. (RFD-TV) — Wholesale prices rose in October, with the latest Producer Price Index (PPI) showing a 0.3 percent increase in prices for final-demand goods and services, according to the U.S. Bureau of Labor Statistics.
The October increase follows a 1.4 percent jump in September and a 0.4 percent gain in August. Over the past 12 months, producer prices have climbed 6.5 percent, marking the largest annual increase since November 2022.
Food prices at the wholesale level rose 1.3 percent in October, while energy prices edged down 0.1 percent. Prices for final demand goods increased 0.5 percent, and services rose 0.2 percent.
Agricultural input and commodity prices showed mixed movement. Prices for prepared animal feeds increased, while unprocessed corn, wheat, hay and hayseeds declined. Raw milk prices climbed 8.2 percent during the month. Diesel fuel prices also fell 7.9 percent.
The report provides another look at inflationary pressures moving through the supply chain, including costs affecting food production, transportation, and other business operations.
