AllPennyStocks.com U.S. Supplier Inflation Shows A Slight Uptick in August

U.S. Supplier Inflation Shows A Slight Uptick in August

U.S. Supplier Inflation Shows A Slight Uptick in August By: Tomas Ronolski - AllPennyStocks.com News

Friday, September 13, 2024

The  U.S. producer price index, or PPI —a measure of inflation before it is passed down to consumers— increased slightly more than expected in August, rising by 0.2 percent. Prices were led by a 0.4 percent increase in services, driven mainly by a 4.8 percent surge in hotel room prices.  Energy prices moved sharply lower, down 0.9 percent for the month.

Excluding the more volatile food and energy categories, PPI increased 0.3 percent, slightly more than the 0.2 percent consensus estimate. In the 12 months through August, the rate of gains slowed, increasing 1.7 percent from July’s 2.1 percent gain.  July’s data was revised lower to show the PPI being unchanged instead of edging up 0.1 percent, as previously reported.

The PPI measures the average change over time in selling prices received by domestic producers of goods and services. PPIs measure price change from the sellers' perspective. In addition to consumer inflation, the U.S. Federal Reserve monitors supplier inflation as it decides on monetary policy. The August report has made it unlikely that the central bank will cut rates by more than expected, instead sticking to the 25 basis point cut that has been widely expected by markets.

 


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