U.S. Producer Prices Unexpectedly Flat In September, Annual Growth Slows Modestly

LIKE.TG | 发现全球营销软件&服务汇聚顶尖互联网营销和AI营销产品,提供一站式出海营销解决方案。唯一官网:www.like.tg
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the Labor Department released a report on Friday showing producer prices in the U.S. were unexpectedly unchanged in September.
The Labor Department said its producer price index for final demand came in flat in September after rising by 0.2 percent in August. Economists had expected producer prices to inch up by 0.1 percent.
The report also said the annual rate of growth by producer prices slowed to 1.8 percent in September from an upwardly revised 1.9 percent in August.
Economists had expected the annual rate of producer price growth to dip to 1.6 percent from the 1.7 percent originally reported for the previous month.
Producer prices came in unchanged on a monthly basis as prices for goods fell by 0.2 percent, offsetting a 0.2 percent rise by prices for services.
The dip by prices for goods came as energy prices plunged by 2.7 percent, although the slump was partly offset by a 1.0 percent jump by food prices.
Meanwhile, the uptick by prices for services came as prices for transportation and warehousing services increased by 0.3 percent, prices for trade services rose by 0.2 percent and prices for other services inched up by 0.1 percent.
Excluding prices for food, energy and trade services, core producer prices crept up by 0.1 percent in September after rising by 0.2 percent in August.
The report also said the annual rate of growth by core producer prices slowed to 3.2 percent in September from 3.3 percent in August.
"After an upside surprise from the September CPI report, producer prices came in below expectations and provide support for a 25bps rate cut in November," said Matthew Martin, Senior U.S. Economist at Oxford Economics.
On Thursday, the Labor Department released a separate report showing consumer prices in the U.S. increased by slightly more than expected in the month of September.
The Labor Department said its consumer price index rose by 0.2 percent in September, matching the increase seen in August. Economists had expected consumer prices to inch up by 0.1 percent.
The report also said core consumer prices, which exclude food and energy prices, climbed by 0.3 percent for the second consecutive month. Core prices were expected to rise by 0.2 percent.
Meanwhile, the Labor Department said the annual rate of consumer price growth slowed to 2.4 percent in September from 2.5 percent in August. Economists had expected the pace of price growth to slow to 2.3 percent.
The annual rate of core consumer price growth accelerated to 3.3 percent in September from 3.2 percent in August, while economists had expected the pace of growth to remain unchanged.

LIKE.TG:汇集全球营销软件&服务,助力出海企业营销增长。提供最新的“私域营销获客”“跨境电商”“全球客服”“金融支持”“web3”等一手资讯新闻。
点击【联系客服】 🎁 免费领 1G 住宅代理IP/proxy, 即刻体验 WhatsApp、LINE、Telegram、Twitter、ZALO、Instagram、signal等获客系统,社媒账号购买 & 粉丝引流自助服务或关注【LIKE.TG出海指南频道】、【LIKE.TG生态链-全球资源互联社区】连接全球出海营销资源。
本文由LIKE.TG编辑部转载自互联网并编辑,如有侵权影响,请联系官方客服,将为您妥善处理。
This article is republished from public internet and edited by the LIKE.TG editorial department. If there is any infringement, please contact our official customer service for proper handling.
Server deployment全球论坛人工智能论坛全球峰会发展论坛战略论坛开放论坛程序员论坛互联网峰会科技峰会