Wholesale prices jumped 6.3% annually in September, biggest gain since 2022
US wholesale inflation reached 6.3% annually in September, the largest increase since late 2022. The Bureau of Labor Statistics reported a monthly climb of 1.3%, exceeding Dow Jones economist forecasts of 0.6% for the month and 5.5% annually. Energy costs drove the spike, with gasoline prices surging 20.3% and energy prices rising 10.8%. A stripped-down measure excluding food, energy, and trade rose 0.5% in September and 5% over the previous year. This marks the second hotter-than-expected inflation reading in one week.
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- ✓ Wholesale prices rose 6.3% annually in September, the highest gain since 2022.
- ✓ The Bureau of Labor Statistics reported a 1.3% monthly increase in producer prices for September.
- ✓ Energy prices increased 10.8% and gasoline prices surged 20.3%.
- ✓ Dow Jones economists had predicted a 0.6% monthly increase and a 5.5% annual increase.
What changed
September producer price index data shows a 6.3% annual jump driven by energy costs.
Live updates
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US Wholesale Prices Surge 6.3% in September
US wholesale inflation reached 6.3% annually in September, the largest increase since late 2022. The Bureau of Labor Statistics reported a monthly climb of 1.3%, exceeding Dow Jones economist forecasts of 0.6% for the month and 5.5% annually. Energy costs drove the spike, with gasoline prices surging 20.3% and energy prices rising 10.8%. A stripped-down measure excluding food, energy, and trade rose 0.5% in September and 5% over the previous year. This marks the second hotter-than-expected inflation reading in one week.
Why it matters
Rising producer prices often signal future retail price increases for consumers. This surge occurs amid a conflict with Iran that has limited oil supplies and increased energy costs. The data arrives weeks before midterm elections, raising concerns about economic affordability.
What is confirmed
- Wholesale prices rose 6.3% annually in September, the highest gain since 2022.
- The Bureau of Labor Statistics reported a 1.3% monthly increase in producer prices for September.
- Energy prices increased 10.8% and gasoline prices surged 20.3%.
- Dow Jones economists had predicted a 0.6% monthly increase and a 5.5% annual increase.
- Core PPI excluding food, energy, and trade rose 0.5% in September and 5% annually.
Still unconfirmed
- The inflationary pressure is a result of the U.S. war with Iran.
What to watch next
- Upcoming retail sales data to determine if wholesale spikes transfer to consumers
- Federal Reserve response to sticky inflation and rising Treasury yields
confidence 95%Sources used for this update (12)
- www.cnbc.com — Stock Markets, Business News, Financials, Earnings - CNBC
- www.interactivebrokers.com — Home | Interactive Brokers LLC
- Bloomberg.com — US Producer Prices Rise by Most in More Than Four Years
- CNBC — Wholesale prices jumped 6.3% annually in September, biggest gain since 2022
- Reuters — US producer prices post largest gain in 4-1/2 years; expensive gasoline boosts retail sales
- The American Prospect — A Perfect Economic Storm
- The Atlantic — America’s Latest Inflation Check-In Doesn’t Look Good for Trump
- us.cnn.com — Wholesale inflation surged in September, keeping affordability in focus ahead of the midterms | CNN Business
- www.timesnownews.com — US Wholesale Inflation Jumps 6.3% In September, Highest Since December 2022 | Times Now
- www.democraticunderground.com — Wholesale prices jumped 6.3% annually in September, biggest gain since 2022 - Democratic Underground Forums
- www.futuremarketinsights.com — Automotive ECU Market Size, Share, Trends 2036
- finance.yahoo.com — Arbor Realty Trust, Franklin BSP Realty Trust, PennyMac Financial Services, Walker & Dunlop, and Ladder Capital Shares Are Falling, What You Need To Know
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