US producer prices rose more than expected in September, driven by higher energy costs. The producer price index for final demand increased by 0.5% month on month, the third consecutive monthly rise. The cost of gasoline rose by 5.4%. Excluding food and energy, the index climbed by 0.3%. Overall, the index was up by 2.2% year on year. A rise in oil prices could create pipeline price pressures, threatening progress in taming producer inflation. Fed officials are closely watching the producer price index as it is used to calculate the Fed's preferred inflation measure.
Frequently Asked Questions
Q: What caused the increase in U.S. producer prices?
A: The increase in U.S. producer prices was primarily caused by higher energy costs, specifically gasoline, as well as higher prices for food. [source]
Q: How much did U.S. producer prices rise?
A: U.S. producer prices rose by 0.5% in September, which was more than expected. [source]
Q: Are U.S. producer prices expected to continue rising?
A: The search results do not provide information on whether U.S. producer prices are expected to continue rising.