The producer price index for final demand rose 0.5% last month, the Labor Department said on Wednesday. Data for August was unrevised to show the PPI accelerating 0.7%.
Economists polled by Reuters had expected the PPI to gain 0.3%. In the 12 months through September, the PPI increased 2.2% after advancing 2.0% in August. The narrower measure of PPI, which strips out food, energy and trade services components, gained 0.2% after rising by the same margin in August. In the 12 months through September, the so-called core PPI increased 2.8% after climbing 2.9% in August.
The report was published ahead of the release on Thursday of September's consumer price data, which is being closely watched for clues on whether the Federal Reserve will raise or keep interest rates unchanged against the backdrop of rising U.S. Treasury yields and conflict in the Middle East.336,000 jobs in September, the most in eight months and almost double the amount economists had expected in a Reuters survey. Financial markets overwhelmingly anticipate the U.S.
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