Reason | Sep 21, 2020 | 0
Core Producer Price Growth Slowest In 11 Months
Extending its recent period of slowdown, core US producer prices rose just 2.4% YoY (below the 2.5% expected) – the slowest since May 2018.
Producer prices for goods rose 0.3% after gaining 1% the previous month.
Services prices increased 0.1% after a 0.3% gain.
The overall producer-price index was up 0.2% from March, also below estimates, after a 0.6% increase, but the month-over-month Core PPI jumped 0.4% – the most since Jan 2018.
The report showed monthly declines in categories including thermoplastic resins and materials, traveler accommodation services and margins for some retail sectors.
Energy prices jumped 1.8% from the prior month, boosting the overall gauge, while food costs fell 0.2%.
Notch another low-flation print as ammo for cutting rates and juicing the economy, right?
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