Producer Price Index, inflation
Digest more
Producer prices in July rose faster than forecast across the board, giving investors and the Federal Reserve an inflation surprise just over a week out from Fed Chair Jay Powell's crucial Jackson Hole speech.
Domestic producers are “raising prices in line with the protection tariffs are providing them,” said a construction economist, a move that could further stoke inflation.
2don MSN
Wholesale inflation much hotter than expected in July — throwing possible wrench into rate cut hopes
The Producer Price Index saw its biggest monthly gain since June 2022, the Bureau of Labor Statistics said Thursday.
The surprise PPI reading, driven by the biggest monthly gain in core since 2022, further muddies the central bank's September decision to hold or cut rates in September.
Factory-gate prices probably rose in July, economists forecast. The producer-price index likely increased 0.2% from a month earlier, according to economists polled by The Wall Street Journal. The inde