8 days ago • Posted by William Ramstein
US monthly producer inflation at 9 month low
Producer prices for final demand in the US were up 0.5% mom in September of 2021, the smallest increase so far this year, and below market forecasts of 0.6%. Nearly 80% of the increase in the PPI can be traced to a 1.3% rise in prices for final demand goods, the largest rise since May, mainly due to gasoline (3.9%). Cost also went up for: beef and veal, residential electric power, fresh and dry vegetables, gas fuels, and primary basic organic chemicals. Prices for final demand services moved up 0.2%, the ninth consecutive advance, led by trade services (0.9%), namely margins for fuels and lubricants retailing (11.6%). Meanwhile, the annual producer inflation continued to accelerate to 8.6%, a new record since November of 2010.