The Labor Department reported that wholesale prices jumped 1.9 percent in September, led by surging prices for gasoline, natural gas and home heating oil after the widespread shutdowns of refineries and oil platforms along the Gulf Coast. Food prices, which had been declining, posted the biggest increase in 11 months as the price of eggs shot up by a record amount.
Excluding the volatile energy and food sectors, the so-called core rate of inflation also posted a worrisome increase of 0.3 percent after showing no increase at all in August.
The 1.9 percent jump in wholesale prices matched a similar rise in January 1990. The 1.9 percent jump has not been surpassed since a 2 percent jump in November 1974, a period when the country was coping with surging energy prices following the 1973 Arab oil embargo.