U.S. wholesale price inflation slowed in October year-over-year, and this producer-side inflation measure was flat month-on-month, showing a pattern similar to inflation felt by consumers .
The producer price index (PPI) rose 8.0% year on year, according to data released Tuesday by the Labor Department.
It remains very high, but the pace has slowed from September, when prices rose 8.4%, according to data revised down slightly and also released on Tuesday.
Over one month alone, prices rose by 0.2%, as in September, and less than expected, since analysts expected an acceleration, to +0.5% over one month, according to the consensus published by briefing. com.
“There is still good news for our economy this morning, and new indications that we are starting to see inflation moderate,” US President Joe Biden said in a press release.
“Today’s report also showed that food inflation has eased – a welcome signal for food bills as the holiday season approaches,” he said. he adds.
Food prices increased by 0.5% over one month, once morest 1.3% last month.
Inflation showed encouraging signs in October, slowing to 7.7% year on year from 8.2% in September, according to the benchmark CPI index.
PPI inflation measures inflation from the perspective of manufacturers and sellers. The CPI index measures inflation on the consumer side, just like another measure, the PCE index, favored by the American central bank (Fed).
ats, awp, afp