The federal government said Wednesday that wholesale prices fell slightly in August, a surprising development that should give the Fed more confidence in lowering interest rates.
The producer’s price index fell 0.1% in August, beating Wall Street’s forecasts and expected to rise slightly. According to the index, it grew by 2.6% per year. Bureau of Labor Statistics.
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PPI measures the prices that manufacturers receive on wholesale before final sale before checkout, and does not pay close attention to it like the Consumer Price Index, which measures the prices that everyday consumers see.
However, both measures are included in the overall index the Fed uses to set rates. The August CPI number will be reported on Thursday.
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Mr. Powell and others in the Central Bank were reluctant to lower interest rates due to Mr. turmoil. Trump’s Trade agenda and the potential for consumer inflation.
However, tax rates are expected to be cut by at least 25 basis points, or 0.25%, next week due to a significant slowdown in hiring.
The U.S. added just 22,000 jobs in August, a slowdown in July’s 79,000 jobs.
Earlier this week, Bureau of Labor Statistics The total number of revised creativity dropped by 911,000 positions in the 12 months to March, indicating a slowdown ahead of Mr. Trump’s inauguration and enactment of large tariffs.
this BLS Modify their job numbers based on the quarterly census of need and wrong employment counts.
Revisions are on Wall Street’s estimates that add BLS.
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