Producer prices came in hot again in August, charting the bigger annual gain in nearly 11 years.
This indicates “transitory” inflation isn’t going away any time soon. The PPI for August rose 0.7% month-on-month. Economists were forecasting a 0.6% rise. This follows on the heels of two straight months with producer prices increasing 1.0%.
Year on year, producer prices are up 8.3%. The last time we saw a year-on-year increase at this level was November 2010.Increasing prices for services were the biggest drive pushing PPI higher. Service prices have lagged durable goods prices. As we reported earlier this month , […]
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