US pro­ducer prices rose 0.4 per­cent in Sept.

The Saratogian (Saratoga, NY) - - BUSINESS -

WASH­ING­TON » Ris­ing en­ergy costs led prices at the whole­sale level to climb 0.4 per­cent in Septem­ber — a bout of in­fla­tion that hap­pened in the wake of Hur­ri­cane Har­vey clos­ing a crit­i­cal num­ber of U.S. gaso­line pro­duc­ers.

The sharp rise is ex­pected to be tem­po­rary as the ef­fects of the hur­ri­cane fade.

The La­bor Depart­ment said Thurs­day that its pro­ducer price in­dex, which mea­sures in­fla­tion pres­sures be­fore they reach the con­sumer, has risen 2.6 per­cent over the past 12 months. Septem­ber’s burst of in­fla­tion is likely the re­sult of oil re­finer­ies shut­ter­ing along the Gulf of Mex­ico due to Hur­ri­cane Har­vey to­ward the end of Au­gust. As a re­sult, gaso­line prices surged 10.9 per­cent in Septem­ber.

The jump in pro­ducer prices is oc­cur­ring af­ter years of sub­dued in­fla­tion.

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