Scott Melker reports September wholesale inflation jumped 1.3%

Wholesale prices jumped 1.3% in September, far above the 0.6% forecast. Scott Melker, host of The Daily Wolf, tracked the sudden rise in the Producer Price Index, which measures inflation at the wholesale level. The jump was the largest single-month increase since March 2022 and pushed annual producer inflation to 6.3%. Melker summed up the unexpected report: "then we got a blazing red hot burn your tongue hot sauce jalapeno PPI reading that just came in." When prices heat up at the wholesale level, everyone eventually feels the burn.