Producer prices in the United States increased more than expected

By: Trademagazin Date: 2022. 10. 12. 09:57

In September, producer prices in the United States increased more than expected, according to the statistics institute of the Department of Labor in Washington, U.S. Based on Wednesday’s report from the Bureau of Labor Statistics.

Food prices rose by 1.2 percent

In September, after a two-month decrease, producer prices in the United States rose by a seasonally adjusted 0.4 percent on a monthly basis, instead of the expected 0.2 percent increase.

In August, the decrease was 0.2 percent on a monthly basis, and in July, producer prices decreased by 0.4 percent compared to the previous month. In June, the monthly price increase was 1.0 percent.

In September, the price of services rose by 0.4 percent on a monthly basis. Within this, the price of travel services jumped by 6.4 percent, that of goods rose by 0.4 percent, food prices rose by 1.2 percent, including fresh and dry vegetables by 15.7 percent. The price of diesel rose by 9.1 percent, the price of residential natural gas by 2.6 percent, the price of eggs by 16.7 percent, the price of household heating oil by 10.7 percent, and the price of pork by 5.5 percent.

Producer prices also increased on an annual basis at a faster than expected rate of 8.4 percent, by 8.5 percent in the 12-month period ending in September, which was still the smallest since last July. In the 12 months ending in August, the average annual increase in producer prices was 8.7 percent.

MTI