USA producer prices rose 0.4 percent in September

The Bureau of Labor Statistics (BLS) said Thursday the Producer Price Index (PPI) bounced back strongly in September, meeting the median forecast.

Rising energy costs caused prices at the wholesale level to climb 0.4 percent in September.

The personal-consumption-expenditures price index, which is the Federal Reserve's preferred inflation gauge, grew a modest 1.4% in August from a year earlier, undershooting the Fed's 2% target. In the 12 months through September, the PPI rose 2.6 percent.

That's the biggest 12-month gain since February, and is up 0.2 percent from the 12-month period ending in August.

Prices for final demand excluding foods, energy, and trade services increased 0.2% in September, unchanged from August.

A gauge of USA business prices rose in September, a sign of emerging inflation pressure in the economy.

These effects are expected to be temporary, putting the Federal Reserve in a quandry as they want to see sustained inflation before raising interest rates in December. That rate, in turn, influences the supply of money in the economy.

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