11/9/2021- 5:39 p.m.
INFLATION: US wholesale prices hits record high in October
Wholesale prices rose 8.6% from a year ago in October, their highest annual pace in records going back nearly 11 years, the Labor Dept. said Tuesday.
The double whammy of an unexpected economy rebound, and crippling supply chain crisis has forced US wholesale prices to match September’s record high rise.
On Wednesday, the Labor Department will release its consumer price index – a measure of inflation before it hits customers – that is expected to show a consumer price rise of 5.8% from last year, the fastest jump since 2008.
