By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — U.S. wholesale prices shot up an unexpected 0.6% in July, biggest gain since October 2018, as energy prices moved sharply higher. The Labor Department said Tuesday that the jump last month in its producer price index — which measures inflation before it reaches consumers — followed a 0.2% drop in June and a 0.4% uptick in May. The increase last month was about twice what economists had expected. Wholesale energy prices shot up 5.3% in July, including a 10.1% surge in gasoline prices. Food prices slid 0.5%. Excluding the volatile food […]
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