US wholesale prices jump 0.6 percent, most in 6 years

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WASHINGTON (AP) U.S. wholesale prices rose by the most in six years last month, led higher by more expensive gas, food, and chemicals.

The Labor Department says the producer price index, which measures price increases before they reach the consumer, leapt 0.6 percent in October, after a smaller 0.2 percent rise in September. Producer prices increased 2.9 percent from a year earlier.

Excluding the volatile food and energy categories, core wholesale prices rose 0.5 percent in October and 2.6 percent from a year earlier.

Despite last month's increase, the figures suggest inflation pressures are mostly in check. During the summer, producer prices rose more than 3 percent from a year earlier.

And oil prices declined in October and are likely to lower gas costs in the coming months.