Business & Economy · 5 views
Wholesale prices jumped 6.3% annually in September, biggest gain since 2022
September's producer price index came in much hotter than economists forecasted on Thursday, underscoring the continued inflationary pressure from energy amid the U.S. war with Iran.
Summary
September's producer price index came in much hotter than economists forecasted on Thursday, underscoring the continued inflationary pressure from energy amid the U.S. war with Iran. The measure of underlying inflation pressures climbed 1.3% in September and 6.3% on an annual basis, according to the Bureau of Labor Statistics. That marked the largest monthly and annual gains since March 2022 and December 2022, respectively.
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