WASHINGTON (Reuters) – US producer prices rose more-than-expected in September as the cost of goods and services continued to rise, according to official statistics on Wednesday, suggesting the high-inflation phase could be prolonged.
The Producer Price Index (PPI) has increased 0.4% since August and 8.5% year on year, the Department of Labor said.
Economists interviewed by Reuters expected an average increase of 0.2% on a monthly basis and 8.4% compared to September 2021, after + 8.7% in August.
The month-to-month price decline in August was revised to -0.2% from the initially announced -0.1%.
The slowdown in producer price inflation on an annual basis is explained by less tension in supply chains and a drop in commodity prices after the spring peaks.
Excluding the prices of energy, food and commercial services, the most volatile categories, the PPI index registers an increase of 0.4% over one month (after + 0.2% in August) and of 5, 6% over one year, unchanged figure.
(Report Lucia Mutikani, French version Marc Angrand)
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