A closely watched inflation barometer rose less than expected in August.
\n\nThe producer price index, excluding food and energy, rose 0.2 percent last month, a slowdown from the previous month’s revised 0.3 percent increase and lower than the 0.3 percent forecast by economists.
\n\nHeadline PPI rose 0.4 percent after climbing an upwardly revised 0.1 percent in July. That matched the consensus forecast. Higher fuel prices have pushed up headline PPI since the start of the war with Iran.
\n\nCompared with a year ago, the PPI is up 5.4 percent. That is higher than the previous month’s 4.8 percent year-over-year increase and slightly above the 5.3 percent consensus forecast. Core PPI is up 4.6 percent from 12 months ago, in line with expectations and above July’s 4.2 percent increase.
\n\nEnergy prices rose 4.2 percent in August compared with the previous month and are up 24.4 percent over the past 12 months. Consumer energy goods rose by a smaller 2.8 percent. For the year, they are up 20.8 percent. Energy purchased by government rose nine percent and is up 36.7 percent over the year. Export energy prices rose eight percent and are up 40.7 percent.
\n\nDiesel fuel jumped 24.1 percent in August.
Original source: https://www.breitbart.com/economy/
