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Wholesale prices rose 0.4% in August, as expected
Energy costs drove the biggest monthly gain in wholesale prices, while the annual increase reached 5.4%, the Labor Department said.
- The Labor Department reported Thursday that wholesale inflation rose 5.4% in August from a year ago, accelerating from 4.7% in July as energy costs climbed.
- Higher oil and gas prices stemming from the conflict in Iran are keeping costs elevated, reversing the cooling trend observed earlier this summer.
- Excluding volatile food and energy categories, core wholesale prices rose 4.6% annually, up from 4.2% in July, while monthly prices increased 0.4% from the previous month.
- Thursday's figures will influence whether the Federal Reserve raises interest rates next week, intensifying pressure on President Donald Trump to address affordability issues before November's midterms.
- Amid these economic pressures, Trump announced Friday that his administration will allow temporary beef imports without higher tariffs, drawing opposition from cattle producers and conservative Republicans.
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65 Articles
(New York = Yonhap News) Correspondent Kim Yeon-sook = The U.S. Department of Labor's Bureau of Labor Statistics announced on the 10th (local time) that the Producer Price Index (PPI) for August rose 5.4% from the previous month....
·Seoul, Korea (the Republic of)
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US producer prices rose by 0.4 percent in August, with data fueling doubts about the Fed's rapid cut in interest rates and fueling inflation concerns.
·Düsseldorf, Germany
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Coverage Details
Total News Sources65
Leaning Left12Leaning Right9Center21Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 29%
C 50%
R 21%
Factuality
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