US Producer Price Index Gained 0.2% Last Month
The US producer price index (PPI) increased last month, after an unexpected decline in August. As it was reported, the US PPI rose by 0.2% in September in a line with forecasts, after 0.1% fall in August. On annual basis, producer prices gained 2.6%. Economists had expected 2.8% growth.
A key gauge of underlying producer price pressures that excludes food, energy and trade services rose 0.4% last month and showed the largest increase since January. The core PPI increased by 0.1% mom and 2.9% yoy in August.
The cost of services rose 0.3% in September, reversing two months of declines, and driven by a 1.8% growth in transportation and warehousing services. Over one third of the increase in services was attributed to a 5.5% growth in the index for airline passenger services. The index measures changes in margins received by wholesalers and retailers. Services had fallen 0.1% in August.