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--Core PPI +0.3% Above-Expected; Ex. Food, Energy, Trade +0.4%
By Alexandra Kelley
WASHINGTON (MNI) - The overall August PPI data released Wednesday
were above expectation, boosting the year over year headline rate to
1.8%. PPI increased by 0.1% from July, above market expectations.
Core PPI rose by 0.3% in the month, slightly above forecasts
predicting a 0.2% gain. Guestroom rental drove increases in the services
sector, jumping +6.4% in August.
Here are some of the key takeaways from the data released
- August PPI increased 0.1% (+0.084% unrounded) month/month overall
as energy decreased by 2.5% and food fell by -0.6%. Trade services grew
by 0.2%, and the core rose by 0.3%.
- The year/year rate for overall PPI rose at 1.8% as recorded
in August 2018, while the year/year rate for core prices jumped to 2.3%.
The measure also excluding trade prices increased by 0.4% month/month,
sharply rebounding from the -0.1% month/month reading in July.
- The year/year core PPI rate accelerated to 2.3% in August.
- Energy prices declined by 2.5% in August after a jump of 2.3% in
July. Similarly, gasoline prices were down by 6.6%. PPI excluding only
energy posted a positive 0.2% reading, while food prices fell by
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