More Inflation Pain for Consumers Likely as Business Cost Gauge Soars

A shopper is seen past a sign displaying the price per pound of russet potatoes at a supermarket in Montebello, Calif., on Aug. 23, 2022. Frederic J. Brown/AFP via Getty Images

Inflation from the perspective of business costs—which tend to get passed along to consumers—soared in September, reversing the prior month’s decline and coming in twice as high as markets expected, pointing to a drawn-out Fed fight against high prices.

The Producer Price Index (PPI) jumped by 0.4 percent between August and September, according to data released on Oct. 12 by the Bureau of Labor Statistics (BLS).