US producer prices rise 0.4 in October on higher food prices

In this Friday, Oct. 27, 2017, photo, a worker helps assemble a Ford truck at the Ford Kentucky Truck Plant, in Louisville, Ky. On Tuesday, Nov. 14, 2017, the Labor Department reports on U.S. producer price inflation in October. (AP Photo/Timothy D. Easley)

WASHINGTON — Prices at the wholesale level climbed 0.4 percent in October and 2.8 percent over the past year, biggest annual jump in more than five years.

The Labor Department says last month's increase in the producer price index, which measures inflation pressures before they reach the consumer, matched the 0.4 percent rise in September. The uptick from October 2016 was the biggest since February 2012. The 12-month increase was driven by a 7.6 percent jump in energy prices.

The October increase was larger than economists had expected.

But energy prices were unchanged from September to October. Food prices rose 0.5 percent in October, most since June.

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