A measure of wholesale prices rose more than expected in September, indicating simmering inflation pressures for the U.S. economy.
Inflation pressures came primarily from final demand goods, which surged 0.9% on the month, while services increased 0.3%.
Much of the goods prices increase came from gasoline, which jumped 5.4%, while food prices posted a 0.9% gain.
Energy prices broadly rose 3.3%.
On the services side, prices for final demand services less trade, transportation and warehousing rose 0.3%, while final demand trade services costs increased 0.5%.
Persons:
Dow Jones, Mike Loewengart
Organizations:
Dow, Labor Department, PPI, Energy, Morgan Stanley's Global Investment, Federal Reserve, Fed
Locations:
U.S