U.S. wholesale inflation surges again — prices are up 10% in the past year

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Wholesale prices rose a sharp 0.8% in February and signaled that the hottest U.S. inflation in 40 years is unlikely to cool off in the spring.

Wall Street economists had forecast a 0.9% increase.

The increase in wholesale prices over the past year stayed at 10% for the second month in a row, the government said Tuesday.

Wholesale prices reflect what businesses pay for supplies such as grains, metals, lumber, fuel, packaging, computer chips and so forth. Higher costs tend to translate into rising prices for customers and more inflation.

Read more at Marketwatch.com

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Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!