Wholesale prices rise for first time in three months and show U.S. inflation still raging

Wholesale prices rise for first time in three months and show inflation still raging

The numbers: U.S. wholesale prices rose 0.4% in September to mark the first increase in three months, signaling little progress in the Federal Reserve’s fight to vanquish high inflation.

Economists polled by The Wall Street Journal had forecast a 0.2% gain. Wholesale prices had fallen in August and July entirely because of declining gasoline prices. Big picture: The Fed’s belated but aggressive strategy to raise interest rates to reduce inflation hasn’t shown much effect so far. Prices are still rising rapidly.

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