Import prices were up 1.1% in September, and a whopping 8.1% for the year, according to data released by the Labor Department on Friday. It’s the latest inflation report out this week, and it paints a picture of prices heating up.
Producer prices rose 1.3% in September from August, and 6.3% annually. Both measures are highs not reached since 2022. The consumer price index for the same month showed prices up 3.7% year-over-year, driven by high energy costs.
As a result, some consumers are pulling back on discretionary spending. There’s also still room for those energy costs to spread to other parts of the economy. And all that inflation data is a backdrop to looming midterm elections, another Fed meeting, and growing concerns about artificial intelligence.
“Marketplace” host Kai Ryssdal unpacked the week’s data with Courtenay Brown of Axios and Catherine Rampell of The Bulwark and MS NOW.
To hear their conversation, use the audio player at the top of the page.
an hour ago25:55
8 hours ago6:21
13 hours ago12:40
2 days ago39:00
4 days ago30:58
4 months ago24:33