After subsiding for two months, wholesale inflation rose by 0.4% in September, according to Producer Price Index data released Oct. 12 by the Bureau of Labor Statistics.
Final demand prices had declined 0.2% in August and 0.4% in July, according to BLS data.
September’s inflation jump — minus food, energy and trade services — was the the largest rise since May, when it increased 0.5%, according to the data. For the 12-month period ending in September, that index for final demand increased 5.6%.
When including food, energy and trade services, the PPI has risen 8.5% over the past year, according to the data.
Food prices increased 1.2% in September, while energy prices rose 0.7%.
In response to the ongoing inflation, the Fed has raised interest rates five times this year and is expected to enact a fourth consecutive 0.75-percentage-point increase in the coming weeks, according to business media reports.