The Producer Price Index came out today and it is a “goods up, services down” story.
August wholesale inflation came in as expected, which was down a tenth of a point to 8.7 percent. The July read was 9.8 percent. The index for core inflation, minus food and fuel, moved up 2 percent, which was slightly higher than expected. Year over year, core inflation was much hotter than expected at 7.3 percent versus 7 percent.
Related:
Consumer Price Index came out slightly lower than July
Producer Price Index jumps above market expectation and could signal higher Consumer Price Index
