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WHOLESALE PRICES SOARED IN OCTOBER, MOST SINCE 1990

Propelled by sharply higher energy and food costs, wholesale prices soared up by 1.7 percent in October, the largest hike since early 1990.

The big over-the-month advance in the Producer Price Index, which measures costs of goods before they reach store shelves, came after wholesale prices edged up just 0.1 percent in September, the Labor Department reported today.

The report suggested that inflation at the wholesale level is picking up.

Excluding energy and food costs, which can swing widely from month to month, "core" wholesale prices climbed in October by 0.3 percent for the second month in a row.

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