PPI Increases 0.5% in September - Modern Distribution Management

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PPI Increases 0.5% in September

More than 40% of the September increase in prices for final demand goods can be traced to a 5.4% rise in the index for gasoline.
Aerial top view oil and gas chemical tank with oil refinery plant background at twilight.

Thanks to increases in prices for food and gasoline, the Producer Price Index for final demand increased 0.5% in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported Oct. 11.

Final demand prices rose 0.7% in August and 0.6% in July. On an unadjusted basis, the index for final demand advanced 2.2% for the 12 months ended in September, the largest increase since moving up 2.3% for the 12 months ended in April, the bureau reported.

Leading the increase in the final demand index in September, prices for final demand goods rose 0.9%. The index for final demand services advanced 0.3%. Prices for final demand less foods, energy and trade services increased 0.2% in September, the fourth consecutive advance.

For the 12 months ended in September, the index for final demand less foods, energy and trade services moved up 2.8%.

Economists polled by news outlet Reuters had expected the PPI would gain 0.3%.

The price of wholesale goods jumped 0.9%, with a 3.3% rise in the cost of energy products accounting for nearly three-fourths of the increase, Reuters reported. The price of gasoline increased 5.4%, making up more than 40% of the increase in the cost of goods.

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