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- U.S. PPI rises more than forecast in September
U.S. PPI rises more than forecast in September
The Labor
Department reported on Wednesday the U.S. producer-price index (PPI) rose 0.4
percent m-o-m in September, following an unrevised 0.3 percent m-o-m gain in August.
For the 12
months through September, the PPI increased 0.4 percent after an unrevised 0.2
percent decline in the previous month. That was the first advance since the 12
months ended in March.
Economists had
forecast the headline PPI would increase 0.2 percent both on m-o-m basis and
over the past 12 months.
According to
the report, nearly two-thirds of the September rise in prices for final demand was attributable to a 0.4-percent m-o-m advance in the index for final demand
services. Prices for final demand goods also went up 0.4 percent m-o-m.
Excluding
volatile prices for food and energy, the PPI rose 0.4 percent m-o-m and 1.2
percent over 12 months. Economists had forecast gains of 0.2 percent m-o-m and
0.9 percent y-o-y.
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