US Department of Labor Revealed that the Producer Price Index (PPI), which is a measure of inflation from producer spending. It fell for the second month in a row, down 0.1% in August month-over-month. in line with analysts’ forecasts After falling 0.4% in July year-on-year, the PPI rose 8.7 percent in August, its lowest level since August 2021. It was lower than analysts’ forecast of 8.8 percent from 9.8 percent in July. The slowdown in the PPI was caused by a plunge in energy prices.
The core PPI, which excludes food and energy, rose 0.2% month-over-month. It was 0.3% lower than analysts’ expectations, following gaining 0.1% year-on-year in July. The core PPI rose 5.6%, its lowest level since June 2021. After rebounding 5.8% in July
