US inflation crisis deepens as wholesale prices soar

US wholesale prices continued to balloon at the fastest rate on record in October, portending further pressure on household budgets as rising costs ripple through the world’s largest economy.The producer price index (PPI) last month climbed 8.6% from a year earlier as energy costs jumped, the US Bureau of Labor Statistics said on Tuesday. Excluding food, energy and trade, the index climbed 6.2% on year. Read moreForget Yellen’s promises… US inflation is out of control, and we