US Producer Prices Up Most Since 2022 as Energy Pain Worsens

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1. 55m ago

   US Producer Prices Jump Most Since 2022 on Energy Costs

   United States producer prices recorded their largest monthly increase since March 2022 in September, driven higher by soaring energy costs and expensive gasoline. Wholesale prices jumped 6.3% annually, pointing to firm underlying inflation as fuel prices worsen financial pressures for consumers and businesses. The Bureau of Labor Statistics reported that surging energy costs accounted for much of the wholesale inflation leap. The data highlights a too-hot economy where Americans struggle to survive amid rising costs, arriving just ahead of November midterm elections.

   Why it matters

   Wholesale inflation hitting its fastest pace in more than four years complicates the economic outlook as voters head toward November midterms, where affordability is a central political issue. Expensive gasoline and electricity prices continue to ripple through the broader economy, touching everything from retail sales to corporate operating costs. Economists monitor these upstream wholesale pressures closely because they typically pass through to consumer retail prices over time.

   What is confirmed

   • U.S. producer prices rose sharply in September, marking the largest monthly increase since March 2022 according to the Bureau of Labor Statistics.
   • Wholesale prices jumped 6.3% annually in September, representing the biggest gain since 2022.
   • Soaring energy costs and expensive gasoline accounted for much of the leap in producer prices.

   Still unconfirmed

   • Underlying inflation remains firm alongside rising fuel prices, just ahead of midterm elections in November in which affordability is a central issue.

   What to watch next

   • November midterm elections where affordability is a central issue
   • Subsequent consumer price index reports to track pass-through inflation
   Sources used for this update (13)

   1. haas.berkeley.edu — News Archives - Energy Institute - UC Berkeley | Haas School of Business
   2. CNN — Wholesale inflation jumped in September by most in four years
   3. Bloomberg.com — US Producer Prices Rise by Most in More Than Four Years
   4. CNBC — Wholesale prices jumped 6.3% annually in September, biggest gain since 2022
   5. Axios — The too-hot-for-comfort economy
   6. Reuters — US producer prices post largest gain in 4-1/2 years; expensive gasoline boosts retail sales
   7. BBC — 'It's rough out here': Americans struggle to survive amid rising costs
   8. PBS — Economist breaks down new inflation report and what's driving prices higher
   9. www.businesstimes.com.sg — US producer prices up by most since 2022 as energy pain worsens - The Business Times
   10. jen.jiji.com — Work, Monday effect: for Italian companies +28% calls compared to other days of the week
   11. www.cnbctv18.com — US producer prices up most since 2022 as energy pain worsens
   12. finance.yahoo.com — Producer prices surge at fastest pace since 2022, adding ...
   confidence 95%