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U.S. import prices jump 1.1% in September, 12-month gain hits 8.1% — largest since July 2022 (Oct 16)
What happened
U.S. import prices jumped 1.1% in September, above the 0.8% economists polled by Reuters had expected, after a downwardly revised 0.5% rebound in August, the Labor Department's Bureau of Labor Statistics said Friday. In the 12 months through September, import prices rose 8.1%, the largest annual increase since July 2022, up from 6.7% in August. The increase was boosted by higher costs for energy products and a range of other goods. Reuters noted the report is further evidence of rising inflation pressures as the Middle East conflict persists.
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- Broad market / S&P 500 — hotter inflation data raises stagflation risk and supports the case for a December Fed hike; rate-sensitive growth and AI-infrastructure names already under pressure
- Energy and consumer-goods importers — higher energy and goods costs feed through to margins and consumer prices
- Treasuries — reinforces upward pressure on yields after the 10-year spiked to 5.33% on the CPI print
Sources