US producer prices rise in September driven by energy costs
US producer prices jumped 1.3% in September, marking the largest monthly increase since March 2022 due to a 10.8% surge in energy costs.
US producer prices increased in September at their fastest monthly pace since early 2022, propelled primarily by sharp gains in energy costs. According to figures released by the Bureau of Labor Statistics, the producer price index climbed 1.3% from the previous month and registered a 6.3% rise compared to the same period last year.
The upward momentum was largely driven by wholesale energy prices, which surged 10.8% during the month due to higher oil and gas costs. The report highlights lingering inflationary pressures upstream in the supply chain as volatile fuel markets continue to influence broader economic indicators.
Sources: Bloomberg