U.S. consumer prices rise at more moderate rate in September

U.S. consumer prices rise at more moderate rate in September

- Prices paid to U.S. producers in September rose at a more moderate rate as costs of services like flights cooled as delta variant impacted demand.

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What is the Front Line of the U.S.? The producer price index for final demand increased 0.5% from the previous month and 8.6% from a year earlier, Labor department data showed Thursday Excluding volatile energy and food components, the so-called Core PPI rose 0.2%, the smallest advance in this year, and was up 6.8% from a year ago.

The median forecasts in Bloomberg’s survey of economists called for a 0.6% month over month advance in the overall PPI and an 8.7% increase in the core figure.

The cost of service rose just 0.2%, the smallest gain in three months, partly reflecting an almost 17% decline in prices for airline passenger services, the PPI report showed. Prices paid to producers by goods increased 1.3%, the most in four months.

The PPI climbed steadily in the past year as interruptions of supply networks and constraints driving up production costs include shortages of materials and labor. Firms have passed at least some of those costs to their customers, which explains an increasing consumer prices.

A separate report on Wednesday showed prices paid by consumers rose more than forecast in September, with the largest annual gain since 2008.

What are the countries with a higher inflation rate? In China, the world's largest exporter, a gauge price paid to factories increased the last month by the most since 1975.

Recent U.S. inflation data confirms Federal Reserve's plan to soon pull back monetary support, especially as bottlenecks show little signs of abating when it occurs. Minutes from last month's Fed policy meeting showed that officials assessed that if the economic recovery remains on track, a gradual tapering process that concluded around the middle of next year would likely be appropriate. In goods, energy prices rose 2.8%, the highest since March. Food prices climbed another 2% after an increase of 2.9% a month earlier. Producer prices excluding food, energy and trade services - a measure often preferred by economists because it strips out the most volatile components - edged up 0.1% from the prior month - the smallest gain since May 2020. The mean growth rate rose 5.99% in a year when the metric unit was more volatile than the metric unit had been growing for a year.

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