{"id":999,"date":"2023-10-14T06:43:28","date_gmt":"2023-10-14T06:43:28","guid":{"rendered":"https:\/\/connectwithfund.com\/economy\/u-s-producer-price-inflation-comes-in-a-little-hotter-in-september-highest-annual-rate-in-five-months\/"},"modified":"2023-10-14T06:43:29","modified_gmt":"2023-10-14T06:43:29","slug":"u-s-producer-price-inflation-comes-in-a-little-hotter-in-september-highest-annual-rate-in-five-months","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=999","title":{"rendered":"U.S. producer price inflation comes in a little hotter in September, highest annual rate in five months"},"content":{"rendered":"
\n

The numbers:<\/strong> The U.S. producer price index rose 0.5% in September, the Labor Department said Tuesday, down slightly from an 0.7% increase in August.<\/p>\n

Economists polled by The Wall Street Journal had forecast a 0.3% advance.<\/p>\n

The core producer price index, which excludes volatile food, energy prices, and trade services rose 0.2% in September for the second straight month. <\/p>\n

\n

Over the past year, headline PPI is up 2.2% in September, up from 2% in the prior month. This is the highest rate since April.<\/p>\n

Core prices are up 2.8% from a year earlier, down slightly from 2.9% in August.<\/p>\n

Key details<\/strong>: For the second straight month, goods prices outpaced service costs, a break in the recent trend.<\/p>\n

The cost of goods rose 0.9% in September after a 2% gain in the prior month.<\/p>\n

The cost of services rose 0.3% last month, up slightly from 0.2% in August.<\/p>\n

Energy prices rose 3.3% in September, down from a 10.3% gain in the prior month but still a strong gain.<\/p>\n

Wholesale food prices jumped 0.9% after a 0.5% fall in the prior month.<\/p>\n

Big picture:<\/strong> The inflation data was hotter than expected but still well below readings recorded a year ago. The PPI report is getting more attention because it is coming before the critical consumer inflation report for Thursday.<\/p>\n

What are they saying? <\/strong> \u201cOverall, these data likely do not change the outlook for Fed policy. Our baseline remains that rates are at a peak. For the Fed, geopolitical developments will be an additional risk factor which will likely keep policymakers proceeding cautiously going forward, said Rubeela Farooqi, chief U.S. economist at High Frequency Economics.<\/p>\n

Market reaction: <\/strong>Stocks
\n DJIA<\/p>\n

SPX
\n were set to open higher Wednesday while the 10-year Treasury yield
\n BX:TMUBMUSD10Y
\n gave back some of its losses after the PPI report but was still down 7 basis points to 4.59%.<\/p>\n

See also: <\/strong>Use MarketWatch\u2019s tool to search for the producer price index of almost 600 products<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The numbers: The U.S. producer price index rose 0.5% in September, the Labor Department said Tuesday, down slightly from an 0.7% increase in August. Economists polled by The Wall Street Journal had forecast a 0.3% advance. The core producer price index, which excludes volatile food, energy prices, and trade services rose 0.2% in September for the second straight month. Over the past year, headline PPI is up 2.2% in September, up from 2% in the prior month. This is the highest rate since April. Core prices are up 2.8% from a year earlier, down slightly from 2.9% in August. Key<\/p>\n","protected":false},"author":1,"featured_media":1000,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[],"class_list":["post-999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"yoast_head":"\nU.S. producer price inflation comes in a little hotter in September, highest annual rate in five months | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"The numbers: The U.S. producer price index rose 0.5% in September, the Labor Department said Tuesday, down slightly from an 0.7% increase in August.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/connectwithfund.com\/?p=999\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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