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Wholesale prices jumped 6.3% annually in September, biggest gain since 2022
- The Labor Department reported Thursday that wholesale inflation surged 1.3% in September, exceeding the 0.6% forecast by economists as energy costs climbed amid the U.S. war with Iran.
- Energy prices drove substantial increases as conflict in the Middle East curtailed oil supply, pushing the PPI to 6.3% annually—its highest rate since December 2022.
- Excluding volatile food and energy, core prices rose 0.7% from August to September, while CPI data confirmed persistent pressures with a 3.7% increase on a 12-month basis.
- Traders are pricing in a nearly 34% likelihood that the Federal Reserve hikes borrowing costs at its meeting later this month, up from under 18% a week prior.
- Retail sales grew 0.8% in September, surpassing the 0.4% anticipated by economists, though the Commerce Department Thursday report noted a slowdown from August's more than 1% gain.
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After Hot CPI, Hot PPI: Producer Prices Rose the Most Since 2022
Two back-to-back inflation reports landed this week, and producer prices did something they have not done since early 2022. Whether stocks are right to shrug it off depends on what happens in one specific corner of the data.
·Lakewood, United States
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Los Angeles Times+3 Reposted by 3 other sources
U.S. wholesale inflation increased faster than expected last month due to a sharp increase in fuel costs
·El Segundo, United States
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Coverage Details
Total News Sources163
Leaning Left17Leaning Right30Center50Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 17%
C 52%
R 31%
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