US producer prices rose 0.4 per cent in September
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WASHINGTON — Rising energy costs led prices at the wholesale level to climb 0.4
The Labor Department said Thursday that its producer price index, which measures inflation pressures before they reach the consumer, has risen 2.6
The sharp increase in producer prices is occurring after years of subdued inflation. The Federal Reserve targets a 2
For producers, food costs were unchanged last month. Motor vehicle costs rose, while computer chips fell in price.
A less volatile measure of inflation, which excludes food, energy and trade services, rose 0.2
The Fed carefully watches inflation to determine whether to raise a key short-term interest rate. That rate can influence the supply of money in the U.S. economy.
So far this year, the Fed has raised the rate in March and June from relatively low levels. Many investors and analysts expect a third rate hike this year when Fed officials meet in December, despite signs that any uptick in inflation last month are unlikely to be sustained as refineries come back on line.