Wholesale inflation in US rises 2.2% in September, biggest year-over-year gain since April

US wholesale prices rose at the fastest pace since April, indicating that inflationary pressures persist despite higher interest rates. The producer price index increased by 2.2% from a year earlier, up from a 2% rise in August. Core inflation, excluding food and energy prices, rose by 2.7% in September compared to the previous year. The Federal Reserve pays close attention to core prices as an indicator of future inflation. Wholesale energy prices surged 3.3% and food prices rose 0.9% in September. There are expectations that the Fed may keep interest rates unchanged for the rest of the year.