Market Updates
Producer Price Index Advanced In September
Brian Turner
11 Oct, 2023
New York City
The producer price index rose 0.5% in September from the previous month, and slower than 0.7% in August, the U.S. Bureau of Labor Statistics reported Wednesday.
However, wholesale inflation on an annual basis accelerated to 2.2% in the month from 2.0% in the previous month and advanced for the third month in a row.
The annual increase in wholesale was the largest since the gain of 2.3% in April.
Goods price index rose 0.9%, driven by 5.4% increase in gasoline prices.
Core wholesale prices, excluding foods, energy, and trade services, increased 0.2% from the previous month in September, the fourth consecutive increase.
Core wholesale inflation, on an annual basis, jumped 2.8%.
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