Wholesale prices jumped 6.3% annually in September, biggest gain since 2022
Energy costs drove more than 80% of the monthly increase, while goods and services prices rose broadly, the Bureau of Labor Statistics 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.
116 Articles
116 Articles
According to BLS report, the producer price index (PPI) reached 6.3% year-on-year the highest level since 2022
U.S. producer prices post biggest gain in 4 1/2 years | Honolulu Star-Advertiser
WASHINGTON >> U.S. producer prices increased by the most in 4-1/2 years in September amid rising costs for goods and services, the latest indication of inflation broadening out beyond energy products.
Wholesale Inflation Jumps to Levels Last Seen in 2022
Wholesale inflation rose more than expected last month on a big jump in fuel costs as laughing prices become a bigger economic challenge for millions of Americans, and a growing political problem for Republicans in the upcoming midterm elections. The Labor Department's producer price index—which captures inflation before it...
The macroeconomic context was dominated by the disclosure that prices in the US producer accelerated to 6.3% in September, well above the 5.4% estimated by analysts, the highest value in the last four years, with prices in the core producer rising to 5%. This scenario maintains pressure on monetary authorities and adds uncertainty to the global geopolitical panorama.
Producer prices up 1.3% month-on-month, biggest increase since March 2022, as energy costs surge
Coverage Details
Bias Distribution
- 46% of the sources are Center
![[your]NEWS](/_next/image?url=https%3A%2F%2Fgroundnews.b-cdn.net%2Finterests%2Ffb6dc495f74049f513563c33352175eaa0ecd509.jpg%3Fwidth%3D60&w=128&q=75)
Factuality
To view factuality data please Upgrade to Premium
