Washington (AP) — Wholesale-level inflation rose 8.6% in September compared to a year ago. This is the biggest improvement since the 12-month change was first calculated in 2010.
The Ministry of Labor reported on Thursday that the monthly rise in the producer price index, which measures inflationary pressure before reaching consumers, was 0.5% in September compared to a 0.7% rise in August.
It was up 8.6% in the 12 months to September, compared to an increase of 8.3% in the 12 months to August, a record 12-month increase.
On Wednesday, the government reported: Retail-level inflation rose 0.4% in September, and the consumer price index rose 5.4% in the last 12 months., Matches the fastest pace since 2008.
This year’s surge in inflation reflects rising prices for food, energy and many other furniture to cars as the pandemic disrupts the supply chain and demand exceeds supply.
Wholesale-level core inflation, excluding volatile energy and food, rose 0.2% from August to September, rising 6.8% over the last 12 months, according to a report on wholesale prices.
Almost 80% of the overall rise in wholesale prices last month was the largest rise since May, due to a 1.3% rise in commodity prices. 40% of the September commodity price surge reflects rising energy prices.Service price increase rose slightly to 0.2%
Wholesale-level food costs rose 2% in September and energy prices rose 2.8%. This is the largest rise since the 5% surge in March.
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US wholesale prices rose 8.6%, a record high in 12 months | Work
Source link US wholesale prices rose 8.6%, a record high in 12 months | Work