November’s wholesale prices were up 9.6% from one year ago, the largest increase since 12-month data were first calculated in 2010, according to the U.S. Bureau of Labor Statistics.
The bureau said its producer price index rose 0.8% from October to November, its highest reading since June.
The index rose 0.6% from September to October.
Food prices increased 1.2% between October and November, while energy prices rose 2.6%.
The bureau said wholesale price increases were brought on by a 1.2% jump in the cost of goods and a 0.7% increase in the price of services.
For the 12-month period ending in November, prices for final demand —except foods, energy and trade services — increased 6.9%, the largest jump since 12-month data were first calculated in August 2014.