The Producer Price Index delivered a higher-than-expected annual wholesale inflation rate of 2.4% in October, its highest level in three months and above analysts' expectations.

With the rising food and vegetable prices, wholesale inflation rose to a four-month high of 2.4 percent in October from 1.84 percent recorded a month ago. The reason for price

Food price inflation, a major contributor to the wholesale price index, rose by 11.59% annually in October, compared to a 9.47% gain in September.

U.S. wholesale prices rose a bit faster in October and suggested the battle by the Federal Reserve to reduce inflation to low prepandemic levels may last awhile.

Wholesale prices in the United States rose last month, remaining low but suggesting that the American economy has yet to completely vanquish inflationary pressure

Wholesale prices in the US rose last month, remaining low but suggesting that the American economy has yet to completely vanquish inflationary pressure. Thursday’s report from the Labor Department showed that its producer price index — which tracks inflation before it hits consumers — rose 0.