The US Department of Labor announced on Thursday that the producer price index for September was much higher than economists' expectations, highlighting that in the context of the conflict between the US and Iran, energy continues to bring inflationary pressure. According to data from the US Bureau of Labor Statistics, this indicator of potential inflationary pressure rose 1.3% month-on-month in September and surged 6.3% year-on-year, the biggest increase in 12 months since the end of 2022. Economists surveyed by Dow Jones had expected a 0.6% month-on-month increase and a 5.5% year-on-year increase. The Middle East conflict cut oil supply and pushed up oil prices. The energy sector is the main driver of this round of price increases. Core PPI, which excludes food, energy and trade items, rose only 0.5% month-on-month and 5% year-on-year in September. This is the latest recent economic report reflecting the continuing impact of inflation on residents and businesses. The consumer price index released on Wednesday showed a 0.6% month-on-month increase in September and a 3.7% year-on-year increase. Economists interviewed by Dow Jones had previously expected 0.6% and 3.6%, respectively. Excluding the core CPI of food and energy prices, which fluctuates a lot, it rose 0.3% month-on-month and 2.6% year-on-year; economists expected 0.2% and 2.5%, respectively. According to an analysis by Bespoke Investment Group, the number of references to inflation-related terms in the Beige Book released by the Federal Reserve this week reached a record high.

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