Solid Producer Price Rise in September

The Producer Price Index rose at a seasonally adjusted annual rate (SAAR) of 3.3% in September and were up 0.7% from a year earlier, the U.S. Bureau of Labor Statistics reported today. Excluding the more volatile components of food and energy, the index also rose 3.3% for the month, seasonally adjusted and annualized, and 1.5% from the prior September.

Most of the September rise was due to a 8.1% SAAR increase in the index for goods, while the index for services inched up only 1.1% SAAR. Thirty percent of the September rise in the index for goods was due to a 35.1% rise in energy prices, primarily the price of gasoline.

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About Author

Monica C. Meinert

Monica C. Meinert is deputy editor of the ABA Banking Journal and a senior editor at the American Bankers Association, where she oversees ABA Daily Newsbytes.