US Department of Laborfor August PPI announced its data. Accordingly, PPI increased by 0.2 percent in August compared to the previous month. The market expectation was that producer prices increased by 0.1 percent on a monthly basis. PPI remained unchanged in July.
The annual increase in producer prices was 1.7 percent in August. Producer inflation was expected to be 1.8 percent annually in August. The PPI had increased by 2.1 percent in July. The core PPI, which excludes variable food and energy prices, also increased by 0.3 percent monthly and 2.4 percent annually in August.
Market expectations were for core producer inflation of 0.2 percent monthly and 2.5 percent annually. Core producer prices fell 0.2 percent monthly and rose 2.3 percent annually in July.
The PPI measures the prices of inputs used in production, providing clues about final product prices and headline inflation. The US Federal Reserve tracks all inflation indicators, including the PPI.
When will the Fed interest rate decision be announced?
The US Federal Reserve (Fed) interest rate decision meeting will be held on Wednesday, September 18, 2024, and the September interest rate decision will be announced at 21:00 in the evening.
Source: www.dunya.com
