US Producer prices Rise more than expected

The US Labor Department said today that the US Producer Price Index rose by 0.4% in September versus 0.3% in August, and year on year, the producer price index rose by 0.4% in the twelve months to September after declining 0.2% in August.

Services rose 0.4% in September after rising 0.5% in August. During September, hotel accommodation prices rose 3.9%, healthcare costs rose 0.2%, and airline ticket prices rose 2.5%.

The core PPI, which excludes food, energy and commercial services components, rose 0.4% in September, and year on year the core PPI rose 0.7% in the twelve months to September.