THE VERIFIED BREAKDOWN
- September's producer price index came in much hotter than economists forecasted.
- The measure climbed 1.3% in September and 6.3% on an annual basis.
- The increase marked the largest 12-month advance since late 2022.
Wholesale prices jumped 6.3% annually in September, biggest gain since 2022
The latest producer price data showed a hotter-than-expected September reading, with annual wholesale inflation at 6.3%.
✓Source-backed summarySource: CNBC
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