Business SummaryBrief at 2:45 p.m. EDT

Wholesale inflation picked up faster than expected last month, underscoring that price pressures are still proving stubborn. The U.S. Labor Department said its producer price index rose 6.3% in September from a year earlier, up from 5.6% in August and the biggest jump since December 2022, largely driven by a surge in fuel costs. The new figure adds to the Consumer Price Index report released Wednesday, which also accelerated in September as gas prices increased. Together, the data are likely to heighten pressure on Federal Reserve policymakers weighing whether to raise interest rates again ahead of the midterms.