Labour Department data released on Friday, a gauge of wholesale prices remained unchanged in September, suggesting that inflation is still declining.
Indicating the amount that producers receive for their goods and services, the producer price index remained unchanged month over month and increased 1.8% year over year. Following August’s 0.2% increase, Dow Jones surveyed economists who predicted a 0.1% monthly gain.
A 0.2% increase in the PPI was expected when food and energy were excluded.
The Labour Department released data the day before, indicating that the consumer price index—a more popular gauge of inflation that represents real prices paid by consumers for goods and services—rose 2.4% over the previous year and by 0.2% for the month.
Despite longer-duration securities’ Treasury rates rising, Wall Street’s stock market futures were barely affected by the data. Inflation is slowing down from its peak over two years ago, but it is still mostly above the Federal Reserve’s 2% objective.
Source (CNBC)
