Lates News

Affected by rising energy costs, the U.S. September producer price index came in above expectations across the board, indicating that the impact of rising energy prices is being transmitted throughout the U.S. economy. Data released by the U.S. Bureau of Labor Statistics on Thursday showed that the September producer price index rose 1.3% month-on-month and 6.3% year-on-year. Excluding food and energy, core PPI rose 0.7% month-on-month and 5% year-on-year. The report shows that alongside rising fuel prices, underlying inflationary pressures in the United States remain stubborn. With only weeks to go before the November midterm elections, the burden of living costs has become a central issue in the election. The data may also prompt Federal Reserve officials to continue raising interest rates in the coming months, especially after another report released on Wednesday showed that a key U.S. consumer price gauge rose more than expected in September. The report also shows that price pressures are expected to remain high in the coming months. An indicator measuring expected input prices for the next six months rose to its highest level since 2022.