PPI inflation shock: Core producer prices hit 3-year high in July in 'head-scratching' inflation surge
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.
The Producer Price Index (PPI) for July showed inflation for businesses rose 0.9% over the prior month, well ahead of the 0.2% increase that was forecast, data from the Bureau of Labor Statistics showed Thursday. On an annual basis, prices rose 3.3%, the most since February.
"Core" producer prices, which exclude food, energy, and trade services, rose 0.6% last month, the most since March 2022 and an uptick after prices were unchanged in June. On an annual basis, core producer prices rose 3.3%, which was also the most since February.
Stocks slipped following the release of Thursday's data.
https://finance.yahoo.com/news/ppi-inflation-shock-core-producer-prices-hit-3-year-high-in-july-in-head-scratching-inflation-surge-123743902.html
= new reply since forum marked as read
Too much for way too little.
Inflation is here and not about to go away!
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