Wholesale inflation rises more than expected in September, with prices jumping 8.5%

[mystery-ak]

October 12, 2022 8:32am EDT
Wholesale inflation rises more than expected in September, with prices jumping 8.5%
Economists expected the producer price index to rise 8.4% in September


By Megan Henney FOXBusiness

Inflation at the wholesale level rose more than expected in September as prices for everyday necessities remain at a multi-decade high, squeezing businesses and millions of American households.

The Labor Department said Wednesday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, rose 0.4% in September from the previous month. On an annual basis, prices soared 8.5%. That is down from the 8.7% recorded in August and marks the lowest reading since July 2021.

Still, those figures were both higher than the 8.3% headline figure and 0.3% monthly gain forecast by Refinitiv economists, a worrisome sign for the Federal Reserve as it seeks to cool price gains and tame consumer demand with an aggressive interest rate hike campaign.

Excluding food, energy and trade services, inflation at the wholesale level increased 0.4% for the month – the fastest gain since May. Over the past 12 months, core prices climbed 5.6%.

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https://www.foxbusiness.com/economy/wholesale-inflation-rises-more-than-expected-september-prices-jumping

[LMAO]

"Well, first of all, let's put this in perspective. Inflation rate month to month was just an inch, hardly at all ..."    Joe Biden

[cato potatoe]

I can't recall such an economic calamity, but am curious to know when people will recognize it.  Everywhere you look is a dumpster fire.  The stock market is down 20% from a year ago, while things cost at least 10% more across the board.  The housing price to wage ratio is at an all-time high ... set for a collapse, which will be followed by another bank bailout and further debasement of currency.  OPEC is cutting production and the fed is jacking up interest rates.  Several million immigrants have been imported, presumably to replace the workers who will be laid off!

[DB]

Obama's entire 8 years was "unexpected" bad economic news... They paint a rosy picture of the future and then reality came in otherwise - over and over again...

Now with Biden it's the same media shit show all over again...

[The_Reader_David]

With the amount of money the Feds printed over the past two years, one has to call into question the economic literacy of anyone who regards either inflation or increases in the rate of inflation as unexpected.

[rustynail]

Hey Joe send us some Dinner Dineros checks.