US Politics

Wholesale Inflation Posts Sharpest Increase in 14 Months

Producer prices reaccelerated for the second consecutive month in August, rising at the sharpest level since June 2022.
Wholesale Inflation Posts Sharpest Increase in 14 Months
An employee restocks meats at a grocery store in North Miami on Jan. 17, 2023. Wilfredo Lee/AP Photo
Andrew Moran
|Updated:
0:00
Producer prices surged at a hotter-than-expected pace of 0.7 percent in August, the sharpest increase in 14 months, according to the Bureau of Labor Statistics (BLS). This was up from 0.4 percent in July and topped the consensus estimate of 0.4 percent.

The producer price index (PPI) advanced to an annualized rate of 1.6 percent, up from 0.8 percent in the previous month. This also came in higher than the market forecast of 1.2 percent.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
Related Topics