US wholesale prices jump 1.1 percent in September

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Associated Press

Posted on October 12, 2012 at 7:36 AM

Updated Friday, Oct 12 at 10:33 AM

WASHINGTON (AP) — A second month of sharp gains in gasoline costs drove wholesale prices higher in September. But outside of the surge in energy, prices were well contained.

The Labor Department says wholesale prices rose 1.1 percent in September following 1.7 percent gain in August which had been the largest one-month gain in more than three years.

In both months, overall prices were pushed higher by gasoline, which rose 9.8 percent in September following an even larger 13.6 percent rise in August.

Core prices, which exclude food and energy, were unchanged in September, the best showing since they were also unchanged in October 2011. In August, core prices rose 0.2 percent.

Food prices, which had jumped 0.9 percent in August, showed a smaller 0.2 percent rise in September.

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