US wholesale prices jump 1.3%, led by petrol
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The story behind it
US wholesale prices jumped 1.3% in September, and bond yields fell anyway Read the edition →On the calendar
The US releases that move markets, in New Zealand and Australian time. Economic calendar →
The story behind it
US wholesale prices jumped 1.3% in September, and bond yields fell anyway Read the edition →On the calendar
The US releases that move markets, in New Zealand and Australian time. Economic calendar →What the chart shows
Producer prices in the US rose 1.3% in September, well clear of the 0.5% economists had forecast. Wholesale petrol prices alone rose 20.3%, and the index is up 6.3% on a year earlier.
Take food and energy out and the month's rise shrinks to 0.68%. A tall column over a much lower dot is how the bond market read it: the 10-year Treasury yield fell to 5.09% from 5.19% on Wednesday.
The run goes back to January 2022 for comparison. In March of that year the index rose 1.68% and the measure without food and energy 1.2%, a jump that reached well beyond the pump.
The numbers
Monthly change in US producer prices, in %, Jan 2022 to Sep 2026; dots leave out food and energy. Economists expected 0.5% for September.
| All final demand | Without food and energy | |
|---|---|---|
| Jan 2022 | +0.96 | +0.81 |
| Feb 2022 | +0.93 | +0.59 |
| Mar 2022 | +1.68 | +1.20 |
| Apr 2022 | +0.54 | +0.44 |
| May 2022 | +0.90 | +0.46 |
| Jun 2022 | +0.91 | +0.29 |
| Jul 2022 | −0.31 | +0.42 |
| Aug 2022 | −0.06 | +0.42 |
| Sep 2022 | +0.32 | +0.15 |
| Oct 2022 | +0.34 | +0.21 |
| Nov 2022 | +0.34 | +0.42 |
| Dec 2022 | −0.33 | +0.14 |
| Jan 2023 | +0.36 | +0.17 |
| Feb 2023 | −0.05 | +0.26 |
| Mar 2023 | −0.28 | −0.05 |
| Apr 2023 | +0.14 | +0.21 |
| May 2023 | −0.23 | +0.12 |
| Jun 2023 | +0.06 | +0.02 |
| Jul 2023 | +0.56 | +0.62 |
| Aug 2023 | +0.65 | +0.20 |
| Sep 2023 | +0.24 | −0.01 |
| Oct 2023 | −0.35 | +0.05 |
| Nov 2023 | +0.06 | +0.21 |
| Dec 2023 | −0.12 | −0.03 |
| Jan 2024 | +0.29 | +0.39 |
| Feb 2024 | +0.55 | +0.36 |
| Mar 2024 | +0.12 | +0.12 |
| Apr 2024 | +0.47 | +0.49 |
| May 2024 | +0.02 | +0.26 |
| Jun 2024 | +0.45 | +0.60 |
| Jul 2024 | +0.04 | −0.05 |
| Aug 2024 | +0.34 | +0.44 |
| Sep 2024 | +0.27 | +0.44 |
| Oct 2024 | +0.34 | +0.33 |
| Nov 2024 | +0.10 | 0.00 |
| Dec 2024 | +0.41 | +0.32 |
| Jan 2025 | +0.63 | +0.56 |
| Feb 2025 | +0.17 | +0.17 |
| Mar 2025 | −0.12 | +0.18 |
| Apr 2025 | −0.27 | −0.21 |
| May 2025 | +0.34 | +0.38 |
| Jun 2025 | +0.16 | +0.11 |
| Jul 2025 | +0.81 | +0.79 |
| Aug 2025 | −0.18 | −0.19 |
| Sep 2025 | +0.61 | +0.52 |
| Oct 2025 | +0.13 | +0.30 |
| Nov 2025 | +0.41 | +0.25 |
| Dec 2025 | +0.36 | +0.51 |
| Jan 2026 | +0.58 | +0.83 |
| Feb 2026 | +0.48 | +0.29 |
| Mar 2026 | +0.78 | +0.29 |
| Apr 2026 | +1.08 | +0.74 |
| May 2026 | +0.52 | −0.01 |
| Jun 2026 | −0.12 | +0.40 |
| Jul 2026 | +0.15 | +0.35 |
| Aug 2026 | +0.47 | +0.25 |
| Sep 2026 | +1.34 | +0.68 |
57 rows: scroll the table for the rest.
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