- The Producer Price Index for final demand rose 1.3% in September, seasonally adjusted, after gains of 0.5% in August and 0.2% in July.
- The 12-month change in final demand reached 6.3% unadjusted, the largest 12-month increase since December 2022.
- Final demand goods prices advanced 2.6%, with energy up 10.8% and accounting for over 80% of the broad-based rise.
- Gasoline prices jumped 20.3% and accounted for half of the goods increase, while chicken eggs dropped 39.7%.
- Final demand services rose 0.8%, led by a 1.4% rise in trade margins, while margins for automotive fuels and lubricants retailing dropped 30.3%.
- Final demand less foods, energy, and trade services rose 0.5% in September and 5.0% over 12 months.
Quotes
“In September, prices for final demand goods rose 2.6 percent”
“The September increase is the largest advance since rising 1.7 percent in March 2022.”