Producer prices rise 8.6%, matching September record high

By PAUL WISEMAN
AP Economics Writer

WASHINGTON (AP) — Inflation at the wholesale level rose 8.6% last month from a year earlier, matching September’s record annual gain and offering more evidence that inflationary pressures are not yet easing. The Labor Department reported Tuesday that its producer price index — which measures inflation before it hits consumers — rose 0.6% last month from September. Excluding volatile food and energy prices, wholesale inflation was up 0.4% in October from September and 6.8% from a year ago. More than 60% of the September-October increase in overall producer prices was caused by a 1.2% increase in the price of wholesale goods as opposed to services.