United States wholesale prices rose 6 point 3 percent in September

United States wholesale prices increased by 6.3 percent on an annual basis in September, according to data released on Thursday by the Bureau of Labor Statistics. UPI and CNBC both reported that the rise marked the largest annual gain since 2022. The single month producer price index climbed by 1.3 percent from August. [1][2]

The monthly and annual figures both came in higher than expected. CNBC reported that economists polled by Dow Jones projected a 0.6 percent monthly increase and a 5.5 percent annual rise. UPI added that more than 80 percent of the final goods index increase stemmed from a 10.8 percent jump in energy prices. [1][2]

The energy price spike comes amid ongoing market pressure from the war with Iran. The energy index increase was the largest single month surge since March, when the conflict began. As FTMQ News reported earlier, falling inventories and supply disruptions linked to the Iran war have contributed to global fuel constraints. [1][2][11]

The latest inflation numbers keep public focus on affordability issues. CNN reported that the higher wholesale prices come ahead of the upcoming United States midterm elections. [4]