Inflation Has Escaped the Gas Station
\n\nSeptember’s inflation reports came drenched in gasoline. Unfortunately, there are signs that inflation is heating up outside of the energy complex.
\n\nThe Labor Department said Thursday that the producer price index jumped 1.3 percent last month, the biggest increase since March 2022, and is up 6.3 percent for the year. Coming a day after the consumer price index showed inflation rising to 3.7 percent, that’s enough to give people unwelcome flashbacks to the Bidenflation years.
\n\nPrices for goods in the producer price index rose 2.6 percent in September and are up 9.8 percent from a year ago. To be sure, more than 80 percent of that increase came from energy, where prices jumped 10.8 percent. Gasoline alone accounted for half the goods increase, with prices soaring 20.3 percent. Diesel prices for intermediate demand rose 21.0 percent, helping explain why the transportation and warehousing price index climbed 3.4 percent in September alone. For the year, transportation and warehousing prices are up 16.0 percent.
\n\nBut even if we strip food and energy prices out of the producer price index’s goods measure, the monthly increase was still a too-high 0.3 percent. For the year, core goods are…
Original source: https://www.breitbart.com/economy/
