The Globe and Mail reports in its Friday edition that the United States economy faced a double blow this week as inflation readings showed that both consumers and businesses are grappling with rising prices amid ongoing trade tensions and conflict with Iran. The Globe's Jason Kirby writes that as wholesale inflation rises more rapidly, concerns grow about when businesses might pass these costs on to customers. Wholesale inflation soared in September to the highest level in more than four years, with the Producer Price Index jumping 1.3 per cent from the month before and 6.3 per cent from the same month in 2025. Both readings topped forecasts from economists, who warn the sharp rise in oil prices from the Iran war are squeezing businesses, particularly with record diesel prices adding to transportation costs. Even without the effect of higher fuel costs, however, core PPI, which excludes energy, food and trade services, is also running at its hottest pace since October, 2022. U.S. consumer inflation is also marching higher, with gas prices pushing the annual inflation rate to 3.7 per cent. Core inflation, which excludes food and energy, rose at a slower 2.6 per cent, but that too was hotter than economists expected.