US wholesale inflation jumps to 5.4% as oil prices soar, what does it mean for commoners?

Wholesale inflation is heating up again. US producer prices jumped 5.4% in August from a year earlier, up from 4.8% in July, as surging oil and diesel costs put pressure on businesses. With oil prices climbing above $100 a barrel and the midterm elections approaching, inflation is becoming both an economic and political challenge for the Trump administration.