Wholesale prices increased nearly 10% in November from year ago, fastest pace on record

Wholesale prices in November increased at their fastest pace on record, the Labor Department reported Tuesday.

The producer price index, or what the federal government calls "final demand," rose 0.8% last month and increased 9.6% over the previous 12 months.

Economists predicted an annual increase of 9.2%, according to CNBC. 

The numbers are among the most recent indicators that inflation is creating problems for consumers and the entire U.S. economy.