the numbers wholesale prices in the us surged again in october and offered little sign that the biggest increase in inflation in decades is going to peter out soon the producer price index rose 06 last month the government said wednesday the wholesale cost of gas and vegetables both rose sharply to account for a sizable chunk of the increase economists polled by the wall street journal had forecast a 06 advance since january wholesale prices have climbed at least 05 in every single month before the pandemic they averaged less than a 02 increase each month read inflation rises at 54 yearly pace cpi shows and stays at 30year high the pace of wholesale inflation over the past 12 months was flat at 86 that’s the highest level since the index was reconfigured in 2009 and likely one of the highest readings since the early 1980s big picture high inflation is expected to persist well into next year read fed still thinks surging us inflation won’t last but it’s hedging its bets the us is facing a big shortage of workers and supplies at a time of soaring demand making it hard for companies to produce enough goods and services to keep up they are paying more for everything the yearly pace of inflation using the federal reserve’s preferred pce price gauge just hit a 30year high of 44 and the better known consumer price index has jumped 54 in the same span the latest cpi comes out wednesday senior fed officials predict inflation will subside in 2022 as the shortages ease brining inflation back down to around 22 that would be just a hair above the fed’s 2 target yet fed officials have persistently gotten their forecasts wrong this year and some critics contend its easymoney policies are helping to stoke the spike in inflation read top fed officials signal interestrate increases in 2022 are on the table market reaction the dow jones industrial average djia and sp 500 spx were set to open lower in wednesday trades