US PPI for final demand rose 0.7% mom in August, above expectation of 0.4% mom. That’s also the largest monthly increase since June 2022.
80% of the rise in PPI is attributable to the 2% mom jump in PPI goods, highest since June 2022, mostly attributable to energy prices which was up 10.5% mom. Prices for services rose 0.2% mom.
For the 12 months ended in August, PPI rose 1.6% yoy, above expectation of 1.2% yoy.
PPI less foods, energy, and trade services rose 0.3% mom. For the 12 months period, PPI less foods, energy, and trade services was up 3.0% yoy, largest annual advance since April.
