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

September’s producer price index came in much hotter than economists forecasted on Thursday, underscoring the continued inflationary pressure from energy amid the U.S. war with Iran.

The measure of underylying inflation pressures climbed 1.3% in September and 6.3% on an annual basis, marking its largest 12-month advance since late 2022, according to data released by the Bureau of Labor Statistics.

Economists polled by Dow Jones forecasted an advance of 0.6% on the month and 5.5% annually.