The rise in prices was mainly due to a bump in energy costs. In September, prices increased in all three energy subcategories. While natural gas saw a jump of only 0.1%, crude petroleum and unprocessed energy materials rose 10.1% and 7.5% respectively.
Basu emphasized armed clashes globally present a wild card for how fuel costs will fare going forward. “Renewed conflict in parts of the world that produce a considerable amount of global energy could put more pressure on contractors during the months ahead, but such things are difficult to predict,” Basu said.
