US producer prices rose 1.3% in September and 6.3% over the year, both above forecasts, as energy costs kept inflation hot.
01Summary
- 01The Bureau of Labor Statistics said the producer price index rose 1.3% in September and 6.3% from a year earlier.
- 02Economists polled by Dow Jones had expected rises of 0.6% on the month and 5.5% annually.
- 03The monthly and annual increases were the largest since March 2022 and December 2022, respectively.
- 04A core measure excluding food, energy and trade rose 0.5% in September and 5% over 12 months.
- 05The BLS said almost half of the rise in processed goods for immediate demand was linked to higher diesel fuel prices.
02Why it matters
The data show inflation pressures remain strong and are being driven by energy, which can feed through into broader prices. That matters because it may influence the Federal Reserve's next interest rate decision and household costs.
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