On Wednesday, the US Department of Labor provided an explanation for the 0.4% increase in the producers’ price index for final demand.
In August, the figures were changed to reflect a 0. 2 percent decline in the index rather than the previously reported 0. 1 percent decline.
Over the course of 12 months to September, the index rose by 8. 5 percent after a rise by 8. 7 percent in August.
Reuters’ economists had signed their thoughts and predicted a 0.
2.4% on a monthly basis and 8.4% on a yearly basis.
According to a Reuters survey, it is expected that the high consumer prices in September will appear on Thursday. This supports the US Federal Reserve’s intention to hike interest rates by 75 basis points next month for the fourth time in a row this year. The US federal raised interest rates by 75 basis points last September, bringing the interest in the United States to 3. 00 to 3. 25 percent..
In September, American producer prices rose more than anticipated.
On Wednesday, the US Department of Labor provided an explanation for the 0.4% increase in the producers’ price index for final demand.
In August, the figures were changed to reflect a 0. 2 percent decline in the index rather than the previously reported 0. 1 percent decline.
The index increased by 8.5% over the course of a year, following an increase of 8.7% in August.
Economists, Reuters, had signed their opinions expected 0.
2.4% on a monthly basis and 8.4% on a yearly basis.
According to a Reuters survey, it is expected that the high consumer prices in September will appear on Thursday. This supports the US Federal Reserve’s intention to hike interest rates by 75 basis points next month for the fourth time in a row this year. In September of last year, the US government increased interest rates by 75 basis points, increasing the country’s rate to 3.0 to 3.25 percent.
In September, American producer prices rose more than anticipated.
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