Another key US inflation gauge fell in September
CNN
Inflation for US producers slowed further in September, adding to hopes that prices aren’t getting jacked up before they get to consumers.
Inflation for US producers slowed further in September, adding to hopes that prices aren’t getting jacked up before they get to consumers. The Producer Price Index, which measures average price changes seen by producers and manufacturers, rose 1.8% for the year ended in September, a slight downshift from the 1.9% gain in August, according to Bureau of Labor Statistics data released Friday. Economists expected the PPI would slow to 1.6%, according to FactSet consensus estimates. PPI is important because it’s often seen as a bellwether for the price increases consumers will wind up paying down the line. If materials and finished goods cost more for manufacturers and producers, the thinking goes, the price increases could be passed along to everyday Americans — although that’s not always the case. For the month, prices held flat from August. On Thursday, the Consumer Price Index — a measurement of average price changes for commonly purchased goods and services — cooled to 2.4%, its lowest rate since February 2021. Inflation in the US has slowed considerably since peaking in the summer of 2022, and prices are rising at an annual pace that’s more in line with what the Federal Reserve wants to see. As a result, Fed officials have now shifted from trying to contain inflation to trying to keep the job market healthy, the other half of their so-called dual mandate.
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