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More Inflation Pain for Consumers Likely as Business Cost Gauge Soars

Started by Epoch-Times-Bot, Oct 12, 2022, 02:30 PM

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Epoch-Times-Bot

Oct 12, 2022, 02:30 PM
More Inflation Pain for Consumers Likely as Business Cost Gauge Soars

Inflation from the perspective of business costs—which tend to get passed along to consumers—soared in September, reversing the prior month’s decline and coming in twice as high as markets expected, pointing to a drawn-out Fed fight against high prices.
The Producer Price Index (PPI) jumped by 0.4 percent between August and September, according to data released on Oct. 12 by the Bureau of Labor Statistics (BLS).
Consensus forecasts called for a 0.2 percent pace of business cost inflation, with Wednesday’s data delivering an upside surprise.
“Not great news in the fight against inflation,” said Liz Young, head of investment strategy at SoFi, in a post on Twitter....

Source: More Inflation Pain for Consumers Likely as Business Cost Gauge Soars

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