Wholesale inflation reaches levels last seen in 2022
US producer prices rose 6.3% over the year through September, according to BLS data.
TL;DR
- The September Producer Price Index rose 1.3% month over month and 6.3% year over year, BLS reported.
- The annual increase was the largest since December 2022, while August’s annual rate was 5.6%.
- The release shows broad price pressure but does not establish how quickly it will pass through to consumer prices.
The Bureau of Labor Statistics reported that its final-demand Producer Price Index rose 1.3% in September on a seasonally adjusted monthly basis. The index was up 6.3% over 12 months, compared with 5.6% in August. [1] [2]
AP reported that the annual increase was the largest since December 2022 and connected much of the acceleration to fuel costs. The official release provides the underlying index tables and separates goods, services and trade services. [1] [2]
Producer prices measure prices received by domestic producers and can signal cost pressures earlier in the supply chain, but they are not a direct measure of consumer inflation. The BLS release records the price changes; it does not forecast the timing or extent of pass-through. [1] [2]
The September result therefore confirms a sharp increase in producer prices, while the persistence of energy-driven pressure and its effect on consumer prices remain open. Future readings will show whether the jump continues or reverses. [1] [2]
Why it matters
The data add to evidence of renewed upstream price pressure, a factor watched by policymakers and businesses when assessing costs and inflation persistence.
Editor's note
Headline and figures checked against AP and the BLS release; no market advice.