US producer prices post big gains after consumer price rise
WASHINGTON — Following Tuesday's report on consumer price inflation, the U.S. Labor Department released a separate report on Thursday showing producer prices in the United States shot up by much more than expected in the month of September. The Labor Department said its producer price index for final demand jumped by 1.3 percent in September after rising by an upwardly revised 0.5 percent in…
In a significant development following the previous week's announcement of consumer price inflation, the U.S. Labor Department released a report on Thursday revealing a sharp surge in producer prices in the United States for the month of September. The Producer Price Index for final demand surged by 1.3 percent in September, surpassing both expectations and the previous month's upwardly revised 0.5 percent increase. Economists had projected a more modest rise of 0.5 percent compared to the actual 1.3 percent.
Furthermore, the report indicated that the annual growth rate of producer prices shot up to 6.3 percent in September, marking a notable increase from the previously reported 5.6 percent annual growth rate in August. The annual growth rate was originally anticipated to maintain its pace at 5.4 percent for the preceding month.
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- US producer prices post big gains after consumer price rise koreatimes.co.kr
