Wholesale inflation jumps record 9.6% over past 12 months

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON (AP) — Prices at the wholesale level surged by a record 9.6% in November from a year earlier, an indication of ongoing inflation pressures The Labor Department said that its producer price index, which measures inflation before it reaches consumer, rose 0.8% in November compared to October, the highest monthly reading since June. Food prices, which had fallen 0.3% in October, jumped 1.2% in November. Energy prices rose 2.6% after a 5.3% rise in October.