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Wholesale prices jumped 6.3% annually in September, biggest gain since 2022
Energy costs drove more than 80% of the goods increase, while core prices also climbed 0.7% and services rose 0.8%, the Labor Department said.
- 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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180 Articles
The Paintsville Herald+15 Reposted by 15 other sources
End-of-week reports show price pressures across US economy
(The Center Square) – Following Wednesday's news that inflation remained elevated in September, economic reports released Thursday and Friday offered a look at rising prices across the U.S. economy.
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 Sources180
Leaning Left21Leaning Right31Center59Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 19%
C 53%
R 28%
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