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The Piney Point

US wholesale prices rise in latest sign of stubborn inflation as oil prices continue to climb

US wholesale prices rise in latest sign of stubborn inflation as oil prices continue to climb
Photo: KPRC 2 / Click2Houston (NBC) · view original

Wholesale inflation picked up last month after cooling earlier this summer as higher oil and gas prices stemming from the Iran war keep costs elevated. The Labor Department’s producer price index — which captures inflation before it reaches consumers — rose 5.4% in August from a year ago, up from...

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