Wholesale prices jumped 6.3% annually in September, biggest gain since 2022

September’s producer price index came in much hotter than economists forecast on Thursday, underscoring the continued inflationary pressure from energy amid the U.S. war with Iran. The measure of underlying inflation pressures climbed 1.3% in September and 6.3% on an annual basis, according to the Bureau of Labor Statistics. That marked the largest monthly and annual gains since March 2022 and December 2022, respectively. Both readings topped expectations of economists polled by Dow Jones, who forecast an advance of 0.6% on the month and 5.5% annually.