U.S. Producer Prices Drop for First Time in More than a Year

  • 2/5/2023
  • 23:38
  • 4
  • 0
  • 0
news-picture

Washington, Dhu-AlHijjah 21, 1435, Oct 15, 2014, SPA -- Prices received by U.S. producers fell in September for the first time in more than a year, the government reported Wednesday in a potentially worrisome sign for the economy in that inflation remains too low. The Labor Department said its producer price index (PPI) fell 0.1 percent last month. In the year ending in September, PPI rose 1.6 percent, the lowest annual reading in six months and significantly below the Federal Reserve's (Fed's) 2 percent target. September PPI was limited by a 2.6 percent drop in gasoline prices. Food prices fell 0.7 percent. Excluding volatile energy and food prices, producer prices were unchanged last month. Over the past 12 months, core PPI has risen only 1.6 percent, also below the central bank's 2 percent target. While many indicators have pointed to a strengthening U.S. economy, Fed policymakers are concerned that inflation has long remained under its target. Some analysts believe worries about persistently low inflation could lead the central bank to delay interest-rate increases expected to start in the middle of 2015. --SPA 22:35 LOCAL TIME 19:35 GMT www.spa.gov.sa/w

مشاركة :