U.S. September PPI Rises 1.3% Month Over Month... Biggest Increase in 3 Years
U.S. producer prices in September rose by the most in three years as energy prices surged in the wake of the war with Iran.
The U.S. Department of Labor said on October 15 (local time) that the Producer Price Index (PPI) rose 1.3% in September from the previous month. This was the largest increase since March 2022, when it rose 1.7%, and far exceeded the 0.6% increase forecast by economists surveyed by Dow Jones.
Year over year, producer prices rose 6.3%, the largest increase since December 2022.
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Producer prices measure changes in the prices businesses pay as they produce and sell goods and services. Because these changes are reflected in prices for final consumer goods after a time lag, the index is considered a leading indicator of consumer prices.
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