News about wholesale prices

US producer prices, which capture inflation before it reaches consumers, rose 6.3% in September from a year ago, up from 5.6% in August and the biggest annual increase since December 2022. Monthly wholesale prices gained 1.3%, the largest rise since March 2022, driven mainly by fuel as diesel averaged $6.32 a gallon versus $3.66 a year earlier. Transportation and warehousing costs jumped 3.4% in the month and 16% from a year ago, and wholesale food prices rose 1.2% from August. Core prices, excluding food and energy, rose 5% from a year earlier, while inflation-adjusted average weekly paychecks shrank year on year for the first time since May. The report adds pressure on the Federal Reserve, and some economists now expect a rate hike at its policy meeting in two weeks.

U.S. producer prices rose 6.3% year on year in September, up from 5.6% in August and the largest annual increase since December 2022, while monthly wholesale prices jumped 1.3%. Core producer prices, excluding food and energy, climbed 0.7% month on month and 5% year on year. Wholesale gas prices surged more than 20% from August, with electricity, vegetables, shipping and air fares also rising. Inflation-adjusted average weekly paychecks fell year on year for the first time since May, and an AP-NORC poll found only 17% of U.S. adults approved of Trump's handling of the cost of living. The Federal Reserve is expected to hold rates at its meeting in two weeks, though economists largely expect a hike in December.

US producer prices rose 6.3% in September from a year ago, up from 5.6% in August and the biggest annual increase since December 2022. Monthly wholesale prices gained 1.3%, the largest rise since March 2022, mainly due to fuel, with diesel averaging $6.32 a gallon versus $3.66 a year earlier. Transportation and warehousing costs climbed 3.4% in the month and 16% from a year ago, and are starting to push up food prices. Core prices rose 5% from a year earlier, while inflation-adjusted average weekly paychecks shrank year on year for the first time since May. The report adds pressure on the Federal Reserve, and some economists now expect it could raise rates at its meeting in two weeks.