WHOLESALE PRICES RISE: Wholesale prices outside of volatile food and energy jumped 0.5 percent in January, the biggest gain since October 2008. A 6.9 percent spike in gas prices pushed the broader Producer Price Index up 0.8 percent.
PASSING ON COSTS: As businesses face higher prices, some are starting to pass along those costs to consumers. Some food and clothing companies are already raising prices.
MORE PRESSURE ON FED: The increase provides ammunition to the Federal Reserve's critics, who worry that the central bank's efforts to stimulate the economy could fuel high inflation.