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Wholesale Inflation Rose Higher Than Expected in September on a Rise in Costs for Services | Economy
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Wholesale Inflation Rose Higher Than Expected in September on a Rise in Costs for Services | Economy

In yet another sign inflation continues to spread throughout the economy, wholesale prices rose 0.4% in September, more than expected, the Bureau of Labor Statistics reported on Wednesday.The increase compares to a 0.3% increase in August.For the 12-month period, the producer price index rose 8.5%, compared to 8.7% in August.Much of the increase in September came from a 0.4% rise in costs for services ranging from health care to travel, with accommodation in particular increasing 6.4% in the month.On Friday, the government will issue the more commonly followed consumer price index, with expectations of an 8.1% annual rise compared to 8.3% in August. The two reports are being closely watched as the Federal Reserve continues its campaign of raising interest rates to combat inflation.Polit...