上个月，企业受到自2022年底以来未见的通胀冲击。最新的美国批发通胀报告显示，9月份企业为生产商品所支付的价格大幅上涨，年化涨幅达到6.3%。生产者物价指数（PPI）报告显示，与8月相比，总体价格上涨了0.6%。PPI报告通常被视为消费者价格走势的先行指标，而该报告紧随周三发布的消费者物价指数（CPI）报告之后，后者同样反映了价格的上涨。
Businesses were hit by inflation last month at levels not seen since late 2022. The latest U.S. wholesale inflation report showed that prices paid by businesses to produce goods in September jumped sharply, to 6.3% on an annual basis. From August, prices overall rose 0.6%, the Producer Price Index report showed. The PPI report is typically seen as a sign of what’s to come for consumer prices, and this one followed a Consumer Price Index report Wednesday which also reflected a jump in prices.
两份报告均表明，通胀正在回升。但与今年早些时候的高通胀不同，当前价格上涨的影响正在整个经济中广泛分布 — — 不仅限于受汽油、柴油和喷气燃料价格飙升影响的行业。消费者物价指数和生产者物价指数也是全国选民在中期选举前往投票站之前的最后主要通胀读数。在许多地区，提前投票已经开始。自美国和以色列在2月对伊朗发动袭击以来，油价和天然气价格一直在飙升。
Both reports indicate that inflation is back on the rise. But unlike high inflation earlier this year, the current impacts of rising prices are distributed broadly across the entire economy — beyond merely those sectors exposed to soaring gas, diesel and jet fuel prices. The consumer and producer price indexes are also the last major inflation readings before voters across the country head to the polls in the midterm elections. At many locations, early voting is already underway. Oil and gas prices have soared ever since the U.S. and Israel attacked Iran in February.
美国劳工统计局周四表示，“9月份生产者价格上涨的一半”源于燃气成本的上升。同样，“柴油燃料、鲜蔬和干蔬菜、喷气燃料、住宅用电以及原油价格也上涨了。”经济学家表示，最近最令人担忧的价格上涨出现在柴油方面。柴油燃料对为农业、交通和航运部门提供动力至关重要。当柴油价格上涨时，这些更高成本的连锁反应可能出现在几乎所有消费品行业。
“Half of the September increase” in producer prices was from the rising cost of gas, the Bureau of Labor Statistics said Thursday . Likewise, prices for “diesel fuel, fresh and dry vegetables, jet fuel, residential electric power, and crude petroleum also rose.”Economists say that the most troubling recent price hikes have been those for diesel. Diesel fuel is critical to powering the farming, transportation and shipping sectors. When diesel prices go up, the knock-on effects of those higher costs can show up in just about every sector of consumer goods.
特朗普政府数月来努力降低价格的举措未能在遏制成本上升方面取得实质性进展。周四的PPI报告中的所有关键数据均远超经济学家和分析师的预期。所谓的“核心”PPI — — 剔除波动较大的食品和能源价格 — — 相比8月上涨了0.7%。
Months of efforts by the Trump administration to bring down prices have failed to make a meaningful dent in rising costs. All of the key numbers in Thursday’s PPI report were far more than had been expected by economists and analysts. So-called “core” PPI, which excludes volatile food and energy prices, jumped 0.7% from August.
与一年前相比，上涨了5%。该报告强化了一些市场预期，即美联储可能在10月27日至28日的会议上提前加息。加息将给已经因债券收益率上升而面临高昂借贷成本的消费者带来更大压力。周四，30年期固定利率抵押贷款的平均利率为7.45%。周四早盘，债券收益率大幅下跌，尽管这主要是因为投资者被视为将资金从对利率敏感的科技股转向债券。近年来，科技股对利率变化变得高度敏感，因为行业龙头企业正在全球范围内建设数据中心，花费数千亿美元——其中大部分是借款并需支付利息。
From this time one year ago, it rose 5%. The report reinforced some market expectations that the Federal Reserve could hike interest rates sooner than expected, during its October 27-28 meeting. A rate hike would add more pressure to consumers, who are already facing high borrowing costs due to rising bond yields. The average interest rate on a 30-year fixed mortgage Thursday was 7.45%. Bond yields fell sharply Thursday in early trading, although this was primarily because investors were seen as moving out money of interest rate-sensitive tech stocks and into bonds. Tech stocks have become highly sensitive to interest rates in recent years because the top players are spending hundreds of billions of dollars — much of it borrowed with interest — to build data centers around the world.