Producer Prices Climbed In September

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WASHINGTON, Oct. 18 (UPI) — The U.S. Producer Price Index for finished goods rose 0.8 percent in September, the Bureau of Labor Statistics reported Tuesday.

Overall, prices have not risen as fast since April, when they also jumped 0.8 percent. Prior to that, prices have not risen as fast since December 2010, when they rose 0.9 percent.

Prices received by producers have risen 6.9 percent on an annual basis..

Prices for finished foods in September rose 0.6 percent after rising 1.1 percent in August. For energy items, prices rose 2.3 percent after dropping 1 percent in August.

Core prices, which exclude food and fuel items, were nearly flat, rising 0.2 percent.

Price gains beat expectations substantially. Economists predicted prices overall would rise 0.2 percent in the month.

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