THE BARE STORY
U.S. wholesale prices rose 6.3% from a year earlier in September, the largest annual increase since 2022, according to the Bureau of Labor Statistics. The increase exceeded forecasts cited in the summaries.
One summary said the producer price index increased 1.3% during the month, led in part by a 20% rise in gasoline prices. Prices excluding food, energy and trade services rose 0.5%, according to that account.
The wholesale data followed a consumer price report showing costs increased 0.6% from the previous month and 3.7% annually, according to the Bureau of Labor Statistics. Economists cited in the summaries said the inflation figures could support another Federal Reserve interest-rate increase later this year.
Treasury yields fell Thursday as investors moved into government bonds amid a sell-off in technology shares. The 10-year Treasury yield declined by more than nine basis points to 5.093%, while the 30-year yield fell to 5.425% and the two-year yield dropped to 4.759%.
Fed funds futures continued to indicate expectations for at least one additional quarter-point rate increase before year-end, according to the CME FedWatch tool.
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