Wholesale prices jump 6.3% annually in September
Producer prices rose faster than economists expected last month, marking the largest annual gain since 2022. Chances of a Federal Reserve rate hike eased anyway.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
This story is no longer being updated. It reflects reporting up to .
What happened
Wholesale prices rose 6.3% from a year earlier in September, the biggest annual gain since 2022. That was well above the 5.5% annual increase that the consensus estimate by Dow Jones had projected. Despite the stronger-than-expected reading, the odds of a Fed rate hike edged down, and stood below 30%.
Coverage
- The PPI Was Much Higher Than Expected. Odds of a Fed Rate Hike Edged Down Anyway. (ibtimes.com)
- Wholesale prices jumped 6.3% annually in September, biggest gain since 2022 (CNBC)
- Hot inflation data pushes US stock futures lower
- US inflation accelerates as energy costs push up wholesale prices
- Hotter US inflation data sends bitcoin toward $81,000
- Bitcoin and Ether funds see $391 million in outflows
- US inflation climbs to 3.7%, stocks slide and Fed hike fears grow
- US September inflation report comes in hot, pushing bitcoin lower
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