US Producer Price Inflation Hits Series High in September

Source: US Bureau of Labor Statistics

US producer price inflation accelerated further in September, the biggest increase since data collection over a decade ago.

• The Producer Price Index for final demand increased by 8.6%, marking the largest advance since annual growth was first collected in November 2010.
• The latest reading compares with the 8.3% recorded in August and 0.3% in September 2020.
• Producer prices posted a month-on-month increase of 0.5%, slower than the 0.7% in August but faster than the 0.3% recorded the same month last year.
• Core month-on-month inflation clocked in at 1.3%, and annual inflation at 5.9%.
• Final demand goods increased by 1.3%, while final demand services grew by 0.2%.
• The biggest increases were recorded in energy and foods, while the only decline was seen in transportation and warehousing.