JOHNSON COUNTY AREA NEWS, PUBLIC RECORDS AND PUBLIC NOTICES
 
The Legal Record
 
VOL. 122, NO. 47 ONLINE EDITION November 24, 2020
A WEEKLY COMMUNITY NEWSPAPER OF GENERAL CIRCULATION SERVING JOHNSON COUNTY, KANSAS
 
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Wholesale prices rise, but inflation not a worry yet
U.S. wholesale prices rose moderately in October as food costs jumped by the largest amount in five months.  

The Labor Department reported that its producer price index, which measures inflation pressures before they reach the consumer, increased 0.3% last month, slightly lower than the 0.4% gain in September.  

Food costs rose 2.4%, the biggest increase since a 5.6% surge in May that was tied to shortages caused by the pandemic.  

The uptick in wholesale prices came in the same week that government data showed retail prices did not change in October, and consumer inflation has risen just 1.2% over the past 12 months.  

Over the past 12 months, wholesale prices are up just 0.5%. Core inflation at the wholesale level, which excludes volatile energy and food, is up just 1.1% over the past year.  

The benign readings on inflation are a welcome sign at the Federal Reserve, which will feel comfortable staying put with ultra-low interest rates for some time. Some economists believe the Fed won’t begin raising rates until 2024.  

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