The U.S. Producer Price Index (PPI) rose 1.3% month over month in September, significantly exceeding market expectations.
The U.S. Bureau of Labor Statistics announced that the PPI for final demand increased 1.3% from the previous month in September. This was above the market expectation of 0.6% and marked the largest monthly increase since March 2022.
Compared with the same month a year earlier, the index rose 6.3%, recording its highest annual increase since December 2022. Prices for final-demand goods rose 2.6% month over month, while prices for services increased 0.8%.
The PPI excluding foods, energy, and trade services rose 0.5% month over month and 5.0% year over year. Final-demand energy prices increased 10.8% during the month.