Bidenflation: Producer Price Index Rises Faster Than Expected

A key barometer of inflation on Wednesday showed prices paid to U.S. businesses rose more than expected in September, dashing hopes that the Federal Reserve might be able to take a softer approach to restoring price stability.

The producer price index, which tracks prices paid to U.S. businesses for the goods and services they produce, rose 0.4 percent in September, the Department of Labor said. That was twice the monthly gain expected by forecasters.

On a 12-month basis, prices are up 8.5 percent. That’s one-tenth of a point more than what economists surveyed by Econoday expected.