US wholesale inflation accelerated in November in sign that some price pressures remain elevated

WASHINGTON (AP) -- Wholesale costs in the United States picked up sharply last month, signaling that price pressures are still evident in the economy even though inflation has tumbled from the peak levels it hit more than two years ago. The producer price index -- which tracks inflation before it reaches consumers -- rose 0.4% last month from October, up from 0.3% the month before. Measured from 12 months earlier, wholesale prices climbed 3% in November, the sharpest year-over-year rise since February 2023. Higher food prices helped fuel the November wholesale inflation reading, which was higher than economists had expected.