PPI in the U.S. slows further in August

The U.S. Department of Labor reported that the Producer Price Index (PPI) fell for the second month in a row in August, dropping 0.1% after falling 0.4% in July.

On a year-over-year basis, the PPI rose 8.7% in August, the lowest increase since August 2021, after rising 9.8% in July.

The slowdown in the PPI is due to the slump in energy prices.

The core PPI (excluding food and energy) rose 0.2% month-on-month, following a 0.1% increase in July.

On a year-over-year basis, the core PPI rose 5.6%, reaching its lowest level since June 2021, after rising 5.8% in July.

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