Us PPI data for September came in higher than expected across the board, suggesting that rising energy costs continue to impede the path to sustainable low inflation. According to the data released by the Bureau of Labor Statistics on Wednesday, the PPI rose 2.2% in September, higher than the market expectation of 1.6% and the previous value of 1.6%; Month-on-month growth of 0.5%, above market expectations of 0.3%, down from the previous 0.7%. In addition, the US core PPI rose 2.7% in September, higher than the market expected 2.3% and the previous value of 2.2%; Month-on-month growth was 0.3%, above market expectations of 0.2% and the previous 0.2%.
Specifically, the US PPI in September rose more than expected, the main reason is that final demand energy prices rose 3.3%, including gasoline index rose 5.4%; The final demand food index rose 0.9%; Excluding food and energy, the goods index for final demand rose 0.1 percent.
September CPI data will be released on Thursday evening. As oil prices continued to rise in September, if rising energy costs lead to a continued pickup in U.S. CPI in September, it may provide a reason for the Federal Reserve to continue raising interest rates. At the moment, Fed officials are divided on whether to raise rates, with some saying they should continue to raise rates to curb inflation and others saying they are no longer needed.