WASHINGTON – U.S. producer prices rose in September, as wholesale energy and food costs increased. But overall inflation appears to be limited, as has been the case for several years.
The Labor Department says its producer price index, which measures cost pressures before they reach the consumer, increased 0.3 percent in September. Oil prices have steadied and edged upward recently, causing energy goods to rise 2.5 percent last month. Food prices at the wholesale level rose 0.5 percent, with a 26 percent jump in chicken eggs and 10.5 percent increase in vegetables.
Core inflation, which excludes the volatile energy and food categories, rose 0.3 percent.
Over the past year, wholesale prices have increased just 0.7 percent. That is well below the 2 percent inflation target set by the Federal Reserve.