Ekonomické zprávy
12.09.2024

U.S. PPI rises slightly more than anticipated in August

The Labor Department reported on Thursday the U.S. producer-price index (PPI) increased 0.2 per cent m-o-m in July, following a downwardly revised flat m-o-m performance (from +0.1 per cent m-o-m) in July. 

For the 12 months through August, the PPI surged by 1.7 per cent, sharply decelerating from a downwardly revised 2.1 per cent surge (from +2.2 per cent) in the previous month. This was the weakest annual rise since February (+1.6 per cent).

Economists had forecast the headline PPI would increase 0.1 per cent m-o-m and 1.8 per cent over the past 12 months.

According to the report, the August gain in the headline index was due to a 0.4-per cent m-o-m jump in the index for final demand services. Meanwhile, the index for final demand goods was flat m-o-m.

Excluding volatile prices for food and energy, the PPI soared 0.3 per cent m-o-m and 2.4 per cent over 12 months. Economists had predicted advances of 0.2 per cent m-o-m and 2.5 per cent y-o-y for August. In July, the core PPI demonstrated a 0.2 per cent m-o-m decrease (revised from unchanged m-o-m in the initial estimate) and a 2.3 per cent y-o-y climb (revised from +2.4 per cent y-o-y in the initial estimate).

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