By Tom Burnett CFA
On October 12, 2022, the Bureau of Labor Statistics released its report on Producer Prices for the month of September. The PPI rose 0.4% in September, after declines of 0.2% in August and 0.4% in July. The Index rose by 8.5% in the 12 months ending in September. The Index rose by 8.7% in the 12 months ending in August. Prices for goods and services each rose by 0.4% in the month of September.
Prices for the Core Index, excluding food and energy, also increased by 0.4% in September, the largest monthly increase since the 0.5% increase in May. For the 12 months ending in September, the Core Index rose by 5.6%, matching the 12-month increase for August.
Food prices increased by 1.2% in September while energy prices rose by 0.7%, after declining 5.6% in August and 9.1% in July. Gasoline prices rose in the latest month after sharp declines in July and August.
The next PPI Report will be released on November 15, 2022.
Tom Burnett CFA is Director of Research