Economy

Producer price index August 2022:

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Producer prices fell 0.1% in August, in line with expectations

The prices that producers receive for goods and services declined in August, a mild respite from inflation pressures that are threatening to send the U.S. economy into recession.

The producer price index, a gauge of prices received at the wholesale level, fell 0.1%, according to a Bureau of Labor Statistics report Wednesday. Excluding food, energy and trade services, PPI increased 0.2%.

Economists surveyed by Dow Jones had been expecting headline PPI to decline 0.1%.

On a year-over-year basis, headline PPI increased 8.7%, a substantial pullback from the 9.8% rise in July and the lowest annual gain since August 2021. Core PPI increased 5.6% from a year ago, matching the lowest rate since…



Source cnbc.com

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