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Third-quarter 2025 saw a notable acceleration in unit non-labor costs, marking a significant shift in inflation dynamics. Year-over-year, the pace climbed to +4.4%, reflecting mounting pressure on production expenses beyond wage-driven factors.
This acceleration signals tightening margins across industries and could influence Fed policy trajectories. For crypto markets, rising non-labor inflation often correlates with central bank hawkishness, impacting capital flows into risk assets. Investors tracking macroeconomic indicators should monitor how this cost pressure translates into broader inflation readings—especially relevant when positioning for 2025's final quarter volatility.