US producer prices rise less than expected – WORLD
The US Producer Price Index (PPI) rose 0.2% m/m and 8% y/y in October, below expectations. The US Department of Labor released PPI data for October. Accordingly, PPI rose by 0.2 percent in October compared to the previous month.The data, which fell below market expectations, was expected to increase by 0.4 percent over the period. In September, the producer price index rose 0.4 percent, in October producer prices rose 8 percent year on year, and producer inflation, which was lower than expected due to a slowdown compared to the previous month, was expected to fall to 8.3 percent in this period. Producer inflation in September was 8.5% year on year. The core PPI, which excludes variable food and energy prices, was unchanged in October from the previous month and fell to 6.7% year on year. The core producer price index, which fell below market expectations in October, rose 0.3% m/m and 7.2% yoy in September. Producer prices are viewed as a leading indicator of inflation. The decline in October was seen as a sign that inflationary pressures in the US have begun to ease. By measuring the prices of inputs used in manufacturing, PPI provides insight into final product prices and general inflation. The US Federal Reserve System (FRS) tracks all measures of inflation, including the PPI.
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