US producer prices rise 6.3% year on year in September, driven by energy
US producer prices for final demand rose 1.3% in September and 6.3% from a year earlier, well above forecasts, with energy and gasoline accounting for most of the increase.
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The story, neutrally told
Mixed · 2The US producer price index (PPI) for final demand rose 1.3% in September and was up 6.3% from a year earlier, according to data released on Thursday 15 October. Anadolu AgencyN “The Producer Price Index for final demand rose 1.3% from the previous month, the largest monthly increase since March 2022, said the US Bureau of Labor Statistics.” Read at Anadolu Agency ↗ BreitbartR “The index is up 6.3 percent from a year ago, the largest 12-month increase since moving up 6.4 percent in December 2022.” Read at Breitbart ↗ Mixed · 2The reading was above expectations: Anadolu Agency put the annual forecast at 5.3%, while Breitbart reported economists had expected 5.4% for the year and 0.5% for the month. Anadolu AgencyN “US annual producer inflation reached 6.3% in September, exceeding expectations of 5.3%” Read at Anadolu Agency ↗ BreitbartR “Economists had forecast a 0.5 percent increase for the month and 5.4 percent from a year ago.” Read at Breitbart ↗ Mixed · 2Energy drove the rise: final demand energy prices jumped 10.8%, accounting for more than 80% of the increase, and gasoline prices rose 20.3%, about half of the rise in goods prices. Anadolu AgencyN “Energy prices jumped 10.8%, accounting for more than 80% of the monthly increase in goods prices.” Read at Anadolu Agency ↗ BreitbartR “Half of the rise in goods prices can be traced to prices for gasoline, which jumped 20.3 percent.” Read at Breitbart ↗
Right · 1Final demand goods prices rose 2.6% in the month, which Breitbart described as the largest increase since the index began to be calculated in 2009, and were up 9.8% from a year earlier. BreitbartR “Prices for final demand goods rose 2.6 percent, the largest increase since the index began to be calculated in 2009. Compared with a year ago, goods prices are up 9.8 percent.” Read at Breitbart ↗ Mixed · 2Services prices rose 0.8% in the month and 4.8% year on year; nearly half of the monthly gain came from a 1.4% rise in trade services margins, which measure retailer and wholesaler margins. BreitbartR “Compared with a year ago, services prices are up 4.8 percent. Nearly half of that increase was due to a 1.4-percent rise in the index for trade services” Read at Breitbart ↗ Anadolu AgencyN “The 0.8% increase in services prices was the largest since April” Read at Anadolu Agency ↗ Centre · 1Food prices rose 1.2% on the month, and chicken egg prices fell 39.7%, according to Anadolu. Anadolu AgencyN “Food prices climbed 1.2%, while goods prices excluding food and energy increased 0.3%. Prices for chicken eggs, however, plunged 39.7%.” Read at Anadolu Agency ↗
Mixed · 2Excluding food, energy and trade services, prices rose 0.5% in September after a 0.3% gain in August, and 5.0% over the past year. Anadolu AgencyN “producer prices excluding food, energy and trade services increased 0.5% in September, following a 0.3% gain in August.” Read at Anadolu Agency ↗ BreitbartR “Over the past year, the index for final demand less foods, energy, and trade services rose 5.0 percent.” Read at Breitbart ↗ Right · 1Earlier months were revised: Breitbart reported August's rise was revised up from 0.4% to 0.5% and the annual rate from 5.4% to 5.6%. BreitbartR “The prior increase was revised up from 0.4 percent to 0.5 percent for the month and from 5.4 percent to 5.6 percent for the year.” Read at Breitbart ↗
Every sentence links to the reporting it rests on. The pill in front of each says where its sources sit: Left, Centre or Right when one side supplies at least half of them, Mixed when they are evenly split. The number is how many outlets it cites.
Left0 outlets
No left outlet in our sources has covered this story yet.
Centre1 outlet
- Framing
- Wire-style data report leading on the figure versus expectations, with detail on energy, services and individual categories.
- Emphasis
- Monthly increase as the largest since March 2022; breakdown by diesel, jet fuel, electricity, eggs, transport and wholesaling margins.
- Leaves out or plays down
- Does not give the monthly forecast or revisions to prior months.
- For example
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“US producer inflation hits 6.3% in September, exceeding expectations of 5.3%” — Anadolu Agency
Right2 outlets
- Framing
- Presents the data as a sign of worsening inflation, with an alarm-toned headline.
- Emphasis
- Fastest annual pace in nearly four years, record goods price rise, upward revisions and forecasts missed.
- Leaves out or plays down
- Omits detail on diesel, jet fuel, electricity and egg prices.
- Charged language
- “Inflation Overload”“much hotter than expected”
- For example
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“Inflation ran much hotter than expected in September.” — Breitbart
What every side reports
- PPI for final demand rose 1.3% in September and 6.3% year on year
- Energy prices rose 10.8% and gasoline 20.3%
- Goods prices rose 2.6% and services 0.8% in the month
- Food prices rose 1.2%
- Prices excluding food, energy and trade services rose 0.5% in the month and 5.0% over the year
Where accounts differ
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Forecast annual rate
- Centre
- Anadolu says expectations were 5.3%.
- Right
- Breitbart says economists forecast 5.4%.
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Source agency
- Centre
- Anadolu attributes the data to the Bureau of Labor Statistics.
- Right
- Breitbart attributes it to the Department of Labor.
Left0 articles
No coverage yet.
Centre1 article
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US producer inflation hits 6.3% in September, exceeding expectations of 5.3%
Neutral Reports the data factually, leading on the miss versus expectations and listing component moves.
Right2 articles
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Inflation Overload: Producer Price Index Up 6.3%
Alarmist Frames the PPI report as an inflation surge using strong headline wording and emphasis on records.
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- 15 Oct 13:46 First BreitbartR Inflation Overload: Producer Price Index Up 6.3%
- 15 Oct 14:12 +26m Anadolu AgencyN US producer inflation hits 6.3% in September, exceeding expectations of 5.3%
- 15 Oct 14:20 +34m IJRRC US Producer Prices Surge 1.3%, Annual Inflation Hits 6.3%
Times are when each article was published, or when we first saw it if the outlet gave no time.
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