Inflation at the wholesale level decelerated once more during the previous month.
The Cost Index for Producers, which gauges typical price adjustments experienced by producers and manufacturers, stood at a 1.7% growth for the period spanning 12 months up until August. This is a decrease from the 2.1% rise observed in July, as per figures released by the Bureau of Labor Statistics yesterday.
On a monthly scale, there was a 0.2% price rise, a faster pace than last month's stagnation.
Economists forecasted a 0.2% monthly increase and a 1.8% annual hike, as per FactSet predictions.
PPI might signal retail-level inflation trends in the near future. On Wednesday, the Consumer Price Index dipped to its lowest rate since February 2021 yet indicated that certain inflationary pressures, particularly housing expenditures, continue to persist at high levels.
This report is currently being updated.
The decreasing Cost Index could potentially impact various business sectors, affecting their overall economy performance. Businesses might need to adapt their strategies to navigate through this changing economic landscape.
