PPI surges 1.9%, most since 1974
WASHINGTON (MarketWatch) - U.S. wholesale prices rose 1.9% in September, the biggest jump in 31 years, the Labor Department said Tuesday.
Price increases were led by a 7.1% rise in wholesale energy prices, the biggest jump in 15 years. Food prices also soared, rising 1.4% on a record 49% increase in egg prices.
The producer price index for finished goods has increased 6.9% in the past 12 months, the fastest rise in prices in 15 years and nearly double the rate seen in June. Core prices, which exclude food and energy, increased 0.3% as prices for capital goods increased 0.3%. Car prices increased 0.9% and truck prices climbed 1%. The core rate is up 2.6% in the past year, down from 2.8% in August.
Price increases were led by a 7.1% rise in wholesale energy prices, the biggest jump in 15 years. Food prices also soared, rising 1.4% on a record 49% increase in egg prices.
The producer price index for finished goods has increased 6.9% in the past 12 months, the fastest rise in prices in 15 years and nearly double the rate seen in June. Core prices, which exclude food and energy, increased 0.3% as prices for capital goods increased 0.3%. Car prices increased 0.9% and truck prices climbed 1%. The core rate is up 2.6% in the past year, down from 2.8% in August.
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