FLASH Headline Alerts, State of the Economy

Inflation Update: PPI Comes In Above Expectations, But…

Inflation

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State of the Economy Update: Producer Price Index

The Producer Price Index – a measure of inflation at the producer level – was reported at +0.3% in August. This was above the consensus estimate for an increase of +0.2% and also well above the July reading of +0.0% (June: +0.8%, May: +0.5% Apr: -0.7%, Mar: -0.6%, Feb: +0.7, Jan: +0.2%, Dec: -0.3%, Nov: -0.8%).

The so-called “core rate” (ex-Food & Energy) was unchanged, which was below the consensus estimate of +0.1% and last month’s +0.1% (June: +0.2%, May: +0.1%, Apr: +0.1%, Mar: +0.2%, Feb: +0.2%, Jan: +0.2, Dec: +0.1%, Nov: +0.1%).

The key is this report confirms that inflation remains in check.

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About the Author

David Moenning is the Chief Investment Officer at Sowell Management Services. Dave began his investment career in 1980 and has been an independent money manager since 1987. Thus, Dave has been live on the firing line and investing for a living for more than 29 years.