WASHINGTON, D.C. — Wholesale inflation in the United States surged again last month, rising 9.7% from a year earlier in a sign that price pressures remain high at all levels of the economy.
The Labor Department said Tuesday that its producer price index — which measures inflation before it reaches consumers — jumped 1% from December. The year-over-year increase was down from the record 9.8% recorded in both November and December but was well above what economists had been expecting.
Excluding food and energy prices, wholesale inflation rose 0.8% from December and 8.3% from January 2021.
