US Producer Price Growth Tops Forecasts, Keeping Pressure on Fed

Prices paid to US manufacturers increased more than was anticipated in September

 indicating that inflationary pressures would persist for some time to come and maintaining the Federal Reserve on its aggressive course of interest rate hikes.

The so-called core PPI, which excludes the volatile food and energy components, climbed 0.3% in September and increased 7.2% from a year earlier.

According to Labor Department statistics released on Wednesday, the producer price index for final demand up 0.4% from August, marking the first gain in three months, and was up 8.5% from a year earlier.

The PPI was expected to grow by 0.2% per month and the core by 0.3%, according to experts polled by Bloomberg.

While supply chain interruptions have usually decreased, prices for services, food, and energy have gone up.


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