Producer price index falls again M/M in August, in line with expectations

Sep. 14, 2022 8:31 AM ETINDU, SPXBy: Max Gottlich, SA News Editor30 Comments

PPI - acronym from wooden blocks with letters

Roman Didkivskyi

  • August Producer Price Index: -0.1% vs. -0.1% consensus and -0.4% prior (revised from -0.5%).
  • +8.7% Y/Y vs. +8.8% consensus and +9.8% prior (unchanged).
  • The final demand goods index decreased 1.2% in August, led by a 6.0% drop in prices for final demand energy. By contrast, the index for final demand services rose 0.4% - the fourth consecutive increase - thanks to margins for fuels and lubricants retailing, which climbed 14.2%.
  • Core PPI: +0.4% vs. +0.3% consensus and +0.3% prior (revised from +0.2%).
  • +7.3% Y/Y vs. +7.1% consensus and +7.7% prior (revised from +7.6%).
  • Investors appear encouraged as wholesale inflation moderates for a second straight month, with Dow futures (INDU) rising 0.1%, S&P futures (SPX) +0.2% and Nasdaq futures (NDX:IND) +0.4% at 8:48 a.m. ET. The upswings come after a consumer price inflation-driven meltdown took effect in the previous session.
  • Earlier this week, (Sep. 13) President Biden says it will take more time to tame inflation.

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