Wholesale Inflation in the US Hit 2.2% in September.
October 12, 2023:
- US wholesale inflation rose to 2.2% in September, the highest level since April.
- The increase was driven by a rise in the price of goods, including food and energy.
- Wholesale inflation is a measure of the prices businesses pay for goods and services and is a leading indicator of consumer inflation.
What does this mean for consumers?
Wholesale inflation is a leading indicator of consumer inflation, so the rise in wholesale inflation in September suggests that consumer inflation is likely to remain high in the coming months.
This means that consumers can expect to pay more for goods and services. It is important to note that the Federal Reserve is raising interest rates to combat inflation, but these rate hikes may take some time to impact significantly.
What can consumers do to prepare?
There are several things that consumers can do to prepare for higher inflation:
- Create a budget and track your spending. This will help you to identify areas where you can cut back.
- Shop around for the best deals. Compare prices online and in stores to find the best deals on the goods and services you need.
- Consider buying in bulk. This can save you money on items that you use regularly.
- Pay off debt. The less debt you have, the less money you will spend on interest payments.
- Invest in yourself. Consider taking courses or workshops to improve your skills and make yourself more marketable. This could lead to a higher salary or new job opportunities.
The rise in wholesale inflation in September indicates that inflationary pressures remain in the US economy. Consumers can expect to pay more for goods and services in the coming months. Consumers can do several things to prepare for higher inflation, such as creating a budget, shopping around for the best deals, and paying off debt.