Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

TOP SEARCHES

Stocks popular

Crypto

Currencies

CFD

Support

July Producer Prices Growth in The U.S. Slows More Than Expected

image
icon 13/08/24
icon 80

July Producer Prices Growth in The U.S. Slows More Than Expected

In July, producer price growth in the U.S. on an annual basis eased more than expected, in the latest indication of easing inflationary pressures in the biggest economy in the world.

According to Labor Department data, last month the producer price index for final demand rose 2.2% y/y, a decline from June’s revised 2.7%. Economists had expected a drop to 2.3%.

Data released on Tuesday showed the PPI in July rose 0.1% on a monthly basis, versus the 0.2% gain expected by economists. It rose to 2.2% annually, versus estimates of a 2.3% rise.

Excluding volatile energy and food components, core PPI was flat for the month, versus an expected rise of 0.2%. The narrower PPI measure stood at 2.4% annually, versus the estimate of a 2.7% rise.

This report was released a day before the consumer price index, which will likely show inflation in July remained at 3.0% on an annual basis, the same as June’s number.

At the end of July, the Federal Reserve kept its policy rate in the range of between 5.25% and 5.50% it has been for over a year but indicated that a rate cut may be made as soon as Sept. if inflation continues to ease.

Recomended for you

image

Crude Prices Drop After IEA Monthly Report

On Wednesday, crude prices dropped and gave back earlier gains after the IEA reduced its forecast for this year’s demand...

May 15, 2024
icon 271
May 15, 2024
icon 271
prev next
This site is registered on wpml.org as a development site.