Import prices jump 1.1% and industrial production rises 0.7% in September
Both reports beat forecasts, adding to a week of hot inflation data.
Economy · Friday, October 16, 2026 · 10:15 AM ET
Two government reports on Friday added to a week of hot inflation data and solid activity. U.S. import prices jumped 1.1% in September, more than the 0.8% economists expected, and industrial production rose 0.7%, ahead of the 0.4% forecast (Reuters, investingLive, RTTNews, Il Sole 24 ORE).
Import prices
The Labor Department's Bureau of Labor Statistics said import prices rose 1.1% after a downwardly revised 0.5% gain in August, boosted by higher costs for energy and a range of other goods, Reuters reported. Over the 12 months through September they rose 8.1%, the largest increase since July 2022, up from 6.7% in August (Reuters). investingLive said export prices rose 2.2% against an expected 1.0%. Import prices exclude tariffs (Reuters, investingLive).
Reuters said the war with Iran has snarled supply chains and kept oil prices elevated, and that economists now see inflation broadening beyond energy after this week's consumer price and producer price reports. Reuters added that financial markets still expected the Federal Reserve to skip a rate increase later this month and tighten in December. See our Warsh story.
Industrial production
The Federal Reserve said industrial production rose 0.7% in September after a revised 0.1% gain in August (RTTNews, Il Sole 24 ORE). Il Sole 24 ORE said manufacturing output rose 0.3%, in line with expectations, mining rose 0.2% and utilities 3.5%. investingLive said capacity utilization was 76.9% against 76.5% expected, and described the report as helped by refineries running at full pace as the gap between crude and refined product prices widened.