WASHINGTON — The producer price index rose 0.8% in September on a seasonally adjusted basis, the Labor Department reported Tuesday.
Core producer prices, excluding food and energy, rose 0.2%. The September overall gain was higher than the 0.2% projected by economists polled by Thomson Reuters, who forecast a 0.1% core increase.
The PPI was led by energy prices, which were up 2.3%. Food prices rose 0.6%. Year-over-year the overall index was up 6.9%, with core prices up 2.5%.
"Folloing recent yield moves, a generic muni index is now down 1% on the month with no real sub-sector showing much deviation from that result," said Kim Olsan, senior vice president of trading at FHN Financial.
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As the nation's fourth largest city faces a growing structural budget deficit, it is also expecting to issue more than $3 billion of debt for its airport, water and sewer system, convention center, as well as to fund a settlement with firefighters and for cash-flow purposes.
The extension of the current solar net metering system could lower revenue for the utility.
The finance team is "marketing slices of risk" to raise money to refinance its debt, investors said.
John Fleming is pushing back against a proposal in the state Legislature to change the way the state Bond Commission oversees the issuance of debt by cities, counties and local governments and entities.
