U.S. producer prices post biggest gain in 4 1/2 years - Honolulu Star-Advertiser
Wholesale prices rose 6.3% annually in September, marking the steepest increase in four and a half years. The Producer Price Index soared 1.3% during the month as costs for services and goods climbed. This surge suggests inflation is broadening beyond energy products, though expensive gasoline has simultaneously boosted retail sales. These figures indicate a high-pressure economic environment where rising wholesale costs may eventually transfer to consumers, adding to the financial struggle of Americans facing increased living expenses.
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- ✓ U.S. producer prices saw their largest increase in 4 1/2 years in September.
- ✓ Wholesale prices jumped 6.3% annually in September.
- ✓ The Producer Price Index rose 1.3% in September.
What changed
September data shows a 6.3% annual jump in wholesale prices, the highest since 2022.
Live updates
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U.S. producer prices see largest gain in 4 1/2 years
Wholesale prices rose 6.3% annually in September, marking the steepest increase in four and a half years. The Producer Price Index soared 1.3% during the month as costs for services and goods climbed. This surge suggests inflation is broadening beyond energy products, though expensive gasoline has simultaneously boosted retail sales. These figures indicate a high-pressure economic environment where rising wholesale costs may eventually transfer to consumers, adding to the financial struggle of Americans facing increased living expenses.
Why it matters
Producer prices serve as a leading indicator for consumer inflation because businesses often pass wholesale cost increases to customers. A broadening of inflation across multiple sectors complicates efforts to stabilize the economy.
What is confirmed
- U.S. producer prices saw their largest increase in 4 1/2 years in September.
- Wholesale prices jumped 6.3% annually in September.
- The Producer Price Index rose 1.3% in September.
Still unconfirmed
- Rising costs for goods and services indicate inflation is broadening beyond energy products.
- Expensive gasoline is boosting retail sales.
What to watch next
- Consumer Price Index data for September
- Federal Reserve interest rate decisions
confidence 95%Sources used for this update (10)
- CNN — Wholesale inflation jumped in September by most in four years
- CNBC — Wholesale prices jumped 6.3% annually in September, biggest gain since 2022
- Axios — The too-hot-for-comfort economy
- Reuters — US producer prices post largest gain in 4-1/2 years; expensive gasoline boosts retail sales
- BBC — 'It's rough out here': Americans struggle to survive amid rising costs
- Honolulu Star-Advertiser — U.S. producer prices post biggest gain in 4 1/2 years
- www.staradvertiser.com — U.S. producer prices post biggest gain in 4 1/2 years
- ca.finance.yahoo.com — US producer prices post largest increase in 4-1/2 years in ...
- www.staradvertiser.com — Business News & Headlines | Honolulu Star-Advertiser
- www.theglobeandmail.com — U.S. producer prices jump at fastest pace in more than four years
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