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The U.S. producer price index (PPI) rose 1.3% in September, marking the highest increase since March 2022, shortly after Russia's invasion of Ukraine.
This development was highlighted by Mohamed A. El-Erian, president of Queens' College, University of Cambridge, who contrasted today's September PPI data with the recent U.S. CPI inflation figures and emphasized that the PPI numbers were notable both in their magnitude and in relation to consensus forecasts.
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El-Erian has recently highlighted several major U.S. economic developments. He noted the U.S. 10-year Treasury yield rising to 5.22 percent, its highest level since 2002, alongside a move in Brent oil prices toward $110 in recent coverage. Earlier this month, he commented on the U.S. budget deficit reaching nearly $2 trillion for the fiscal year ending September 30, estimated at around 6% of GDP in another report.