A measure of wholesale prices showed no change in September, pointing to a continued easing in inflation, the Labor Department reported Friday.
The producer price index, which measures what producers get for their goods and services, was flat for the month and up 1.8% from a year ago. Economists surveyed by Dow Jones had been looking for a monthly gain of 0.1% after August’s increase of 0.2%.
Excluding food and energy, the PPI rose 0.2%, meeting expectations.
The report comes a day after the Labor Department reported that the consumer price index, a more widely followed inflation measure that shows that consumers actually pay for goods and services, showed an increase of 0.2% for the month and 2.4% from a year ago.
Together, the releases indicate that inflation is off its blistering pace that peaked more than two years ago but still mostly holds above the Federal Reserve’s 2% target.
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Source: https://www.cnbc.com/2024/10/11/producer-price-index-september-2024-.html