The U.S. Bureau of Labor Statistics reports that producer prices rise sharply in September, with the producer price index (PPI) for final demand increasing 1.3% from August. The increase is described as the largest since early 2022, and it follows an upwardly revised August PPI reading of 0.5%, according to the latest BLS data.
Outlets also note that expectations for September were lower. Economists had forecast a 0.5% monthly gain, compared with an August figure originally reported at 0.4% before revision. The annual pace of producer price growth accelerates as well, reaching 6.3% in September from an upwardly revised 5.6% in August. One outlet emphasizes the size of the monthly jump, while another highlights both the month-to-month surge and the faster year-over-year increase. Together, the reports indicate renewed pressure higher up the supply chain after recent consumer inflation data.
