Wholesale price inflation accelerated in August from historically slow pace

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HEINZ TOMATO ketchup is displayed in a Target store in Upper Saint Clair, Pa. The Labor Department said Thursday that its producer price index — which measures inflation before it hits consumers — increased 1.6% last month from a year earlier. That is up from a small 0.8% yearly increase in July and just 0.1% in June. Sharply higher gas prices drove much of the increase. / ASSOCIATED PRESS FILE PHOTO / GENE J. PUSKAR
WASHINGTON (AP) – U.S. wholesale price increases accelerated in August, a sign that inflation remains stubbornly persistent despite a series of sharp interest rate hikes by the Federal Reserve. The Labor Department said Thursday that its producer price index – which measures inflation before it hits consumers – increased 1.6% last month from a year…

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