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Wholesale Inflation Over Past Year Jumps By Record Amount

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A shopper guides a cart past a line of gigantic boxes of breakfast cereals in a Costco warehouse on Thursday, June 17, 2021, in Lone Tree, Colo. Inflation at the wholesale level jumped 1% in June, pushing price gains over the past 12 months up by a record 7.3%. The Labor Department reported Wednesday, July 14 that the June increase in its producer price index, which measures inflation pressures before they reach consumers, followed a gain of 0.8% in May and was the largest one-month increase since January. (AP Photo/David Zalubowski)

(AP) — Inflation at the wholesale level jumped 1% in June, pushing price gains over the past 12 months up by a record 7.3%. The Labor Department reported Wednesday that the June increase in its producer price index, which measures inflation pressures before they reach consumers, followed a gain of 0.8% in May and was the largest one-month increase since January. For the 12 months ending in June, wholesale prices are up 7.3%, the largest increase since the government began the current series on wholesale prices in 2010.

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