Wholesale prices just took a massive jump, and gas is to blame
Just when everyone was hoping the economy would finally cool down, wholesale inflation decided to pull a sudden sprint.
The Bureau of Labor Statistics dropped the latest numbers, and they are not particularly comforting. Wholesale prices jumped way more than anyone expected, hitting their highest annual rate since late 2022.
Almost the entire spike is because gas and energy prices went absolutely wild last month. Gasoline alone shot up by more than 23 percent. If filling up the car felt like a robbery lately, this is the official proof of why.
But hey, there is some weirdly specific good news if anyone is planning a backyard barbecue. While fuel prices soared, the wholesale price of pork actually dropped by ten percent. The universe always gives with one hand and takes with the other.
Surviving on nothing but cheap bacon in a car with an empty gas tank is apparently the new American dream.
Source: Bureau of Labor Statistics
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