MoneyBusiness

Actions

US producer prices jump an unprecedented 8.3% in August

General Motors-Chip Shortage
Posted
and last updated

WASHINGTON (AP) — Inflation at the wholesale level climbed 8.3% last month from August 2020, the biggest annual gain since the Labor Department started calculating the 12-month number in 2010.

The Labor Department reported Friday that its producer price index — which measures inflationary pressures before they reach consumers — rose 0.7% last month after increasing 1% in both June and July.

Inflation has been stirring as the economy recovers from last year's brief but intense coronavirus recession.

Supply chain bottlenecks and a shortage of workers have pushed prices higher.

Excluding volatile food and energy prices, so-called core producer prices rose 0.6% from July and 6.7% from a year earlier.

Food prices were up 2.9% last month after falling in July.

The report shows wholesale food prices rose 12.7%, including grains surging 98%, beef 59.2%, and 43.5% for shortening and cooking oil.

Gasoline rose from -2.5% in July to 75.1% over the past year.

,

Weather

Daily Forecast

View Hourly Forecast

Day

Conditions

HI / LO

Precip

Wednesday

04/22/2026

Partly Cloudy

72° / 47°

1%

Thursday

04/23/2026

Partly Cloudy

76° / 53°

6%

Friday

04/24/2026

Partly Cloudy

81° / 52°

0%

Saturday

04/25/2026

PM Showers

69° / 51°

39%

Sunday

04/26/2026

Partly Cloudy

71° / 50°

23%

Monday

04/27/2026

Partly Cloudy

75° / 51°

2%

Tuesday

04/28/2026

Partly Cloudy

77° / 54°

8%

Wednesday

04/29/2026

Partly Cloudy

78° / 55°

7%