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.

Read the BLS release.


About Author

Monica C. Meinert

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