TED: The Economics Daily

The Producer Price Index for final demand increased 1.8 percent for the 12 months ended in September 2024. Over the same period, prices for final demand goods decreased 1.1 percent, while prices for final demand services increased 3.1 percent.

Real average hourly earnings increased 1.5 percent from September 2023 to September 2024. Real earnings are earnings that have been adjusted for changes in consumer prices. The change in real average hourly earnings combined with a decrease of 0.6 percent in the average workweek resulted in a 0.9-percent increase in real average weekly earnings over the year.

From September 2023 to September 2024, the Consumer Price Index for All Urban Consumers (CPI-U) rose 2.4 percent, the smallest over-the-year increase since the 12 months ended February 2021. Over the year ended September 2024, prices for food increased 2.3 percent, prices for energy decreased 6.8 percent, and prices for all items less food and energy increased 3.3 percent.

Total nonfarm payroll employment increased by 254,000 in September 2024, higher than the average monthly gain of 203,000 over the prior 12 months. In September, employment continued to trend up in food services and drinking places, health care, government, social assistance, and construction.