U.S. producer prices for final demand goods and services rose more than expected last month, largely owing to higher energy costs, Reuters (subscription) reports.
What’s going on: “The producer price index for final demand rose 0.5% last month, the Labor Department said on Wednesday. Data for August was unrevised to show the PPI accelerating 0.7%.”
- Reuters-polled economists had expected the PPI to increase 0.3%.
- “In the 12 months through September, the PPI increased 2.2% after advancing 2.0% in August.”
Core PPI: Core producer prices—prices excluding food, energy and trade services components—rose 0.2%, the same increase seen in August.
- “In the 12 months through September, the … core PPI increased 2.8% after climbing 2.9% in August.”
Coming up: The Federal Reserve is expected to leave current interest rates unchanged when it meets Oct. 31 and Nov. 1, according to Reuters.