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US producer prices increase in August
U.S. producer prices rose by 0.4% in August, in line with expectations, following a 4.2% increase in energy product costs due to renewed hostilities between the United States and Iran, which led to a rise in oil prices. Over the 12 months ending in August, the index increased by 5.4%. Additionally, wholesale food prices edged up by 0.1%, and the prices of manufactured goods increased by 1.1%. The government is in the process of adjusting the methods used to calculate certain components of the Producer Price Index, which could result in downward revisions of inflation estimates for the months from May to August. Meanwhile, current data indicate that inflation remains above the target, potentially prompting the Federal Reserve to raise interest rates next week.
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