US Producer Prices Jump 6.3% in September as Energy Costs Drive Fastest Rise in 4 Years
Updated
Updated · Newsday · Oct 15
US Producer Prices Jump 6.3% in September as Energy Costs Drive Fastest Rise in 4 Years
3 articles · Updated · Newsday · Oct 15
Summary
US producer prices climbed 1.3% in September from August and 6.3% from a year earlier, marking the fastest annual increase in more than four years.
Higher energy costs drove the surge, with the Bureau of Labor Statistics saying those increases reverberated through the broader economy.
Core producer prices, which exclude food and energy, still rose 0.7% on the month and 5% from a year earlier, showing inflation pressures extended beyond volatile categories.
The jump topped economists' expectations in earlier reporting and adds to inflation signals that feed into the Federal Reserve's preferred PCE measure.