Producer Prices Rise More Than Anticipated
U.S. producer prices for final demand goods and services rose more than expected last month, largely owing to higher energy costs, (subscription) reports.
Whats going on: 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%.
- Reuters-polled economists had expected the PPI to increase 0.3%.
- In the 12 months through September, the PPI increased 2.2% after advancing 2.0% in August.
Core PPI: Core producer pricesprices excluding food, energy and trade services componentsrose 0.2%, the same increase seen in August.
- In the 12 months through September, the core PPI increased 2.8% after climbing 2.9% in August.
Coming up: The Federal Reserve is expected to leave current interest rates unchanged when it meets Oct. 31 and Nov. 1, according to Reuters.
