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Kerry Ditto
12 hours ago
us political turmoil probably cause stock mkt tumble.
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U.S. PPI cools to 0.1% in June
Published Jul 13, 2023 08:33AM ET
Updated Jul 13, 2023 09:08AM ET
© Reuters.
Investing.com -- Growth in U.S. producer prices eased by more than expected in June in the latest sign of fading inflationary pressures in the world's largest economy, bolstering the case for the Federal Reserve to step back from its aggressive policy tightening campaign after an expected interest rate hike later this month.
According to data from the Bureau of Labor Statistics, the seasonally-adjusted producer prices for the month eased to 0.1% annually, decelerating from a downwardly revised mark of 0.9% in May. Economists had seen the figure rising by 0.4%.
On a month-on-month basis, the number also ticked up by 0.1%, rebounding from a contraction of 0.4% in the prior month. Forecasts had called for an increase of 0.2%.
The Fed is widely tipped to raise borrowing costs by another 25 basis points at their upcoming policy meeting in late July. Investing.com's Fed Rate Monitor Tool shows that there is a more than 91% chance that the central bank will lift rates at the gathering.
But some uncertainty remains over whether policymakers will then move away from its long-standing tightening cycle, which the Fed instituted to help corral red-hot inflation. In the wake of the latest producer price index, as well as softer-than-anticipated consumer prices on Wednesday, the probability that the Fed will keep rates steady at their September meeting stands at over 81%.
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Comments (14)
Kerry Ditto
13 hours ago
inflation is to flare up big again, just looking at this stock mkt bubbling.
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Kerry Ditto
13 hours ago
wishful thinking is Fed's pause after one more hike this month. probably not. maybe 3 or more hikes on the way.
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Joe Rizzuto
13 hours ago
at nato conference, Biden calls zelensky (sitting right next to him) Vladimir..!! probably nothing.
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Joe Rizzuto
13 hours ago
bradley wud call me a biden hater for posting that
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Stephen Fa
14 hours ago
More 'magical adjustments.' Without seasonal adjustments, initial jobless claims rise to 6 month highs.
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Bill Powers
13 hours ago
yes they are. FRED is a very useful tool.
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Brad Albright
12 hours ago
Bill, just because you find a chart in which FRED graphs a seasonal adjustment to initial unemployment claims does not mean the numbers from their source, the US Department of Labor are seasonally adjusted -- they are not. In fact, if you search, you can find a FRED chart of the numbers not seasonally adjusted, as reported.
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Brad Albright
12 hours ago
Furthermore, if we look at the non-seasonally adjusted initial claims, as Fa requests, we can see just how wrong his claim is. 4 weeks ago, claims were 264,000, higher than the current 237,000 Fa incorrectly says is a 6 month high. I get the feeling he makes a lot if stuff up without checking.
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Bill Powers
10 hours ago
lmao yes I always seasonally adjust already seasonally adjusted data. if you said initial jobless claims reported by the US department of labor are not seasonally adjusted, you would be correct, but you didn't. it's ok to be wrong.
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Stephen Fa
5 hours ago
Brad hominem is wrong again.
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Kerry Ditto
14 hours ago
recession signs are mounting.
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Brad Albright
14 hours ago
More good news. The America haters and Biden critics are agitated, but good news for the rest of us.
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So not believing in the Bidennomics nonsense propaganda, Means a American hater?
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Brad Albright
12 hours ago
Or nutty.
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Steven ML
14 hours ago
Inflation data: the best financial manipulation instrument ever invented
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Tully Meimaris
14 hours ago
guess inflation was transitory !
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Gaurav Salooja
14 hours ago
comments r a joke here
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