Growth hits highest in over four years! U.S. September PPI surges to 6.3% year-over-year, far exceeding expectations, as energy costs hit the economy.

Zhito Finance APP has learned that the U.S. Bureau of Labor Statistics (BLS) announced on Thursday (October 15) that the September Producer Price Index (PPI) for final demand rose 6.3% year-over-year and 1.3% month-over-month; core PPI, excluding food and energy, rose 5.0% year-over-year. All four readings came in comprehensively and significantly above market expectations (expected 5.3% year-over-year, 0.5%0.6% month-over-month, and 4.4% year-over-year for the core), indicating that price pressures at the production end have further intensified.