U.S. wholesale prices rose in August, according to a report Thursday that could play a key role in the Federal Reserve’s upcoming interest rate decision.
The producer price index, a measure of final-demand costs for goods and services, increased a seasonally adjusted 0.4% for the month, in line with the Dow Jones consensus.
On an annual basis, that put PPI at 5.4%, still well above the Fed’s 2% inflation target and 0.1 percentage point higher than expected.
Excluding food and energy, core PPI accelerated by 0.2%, against the forecast for a 0.3% increase. Core less trade services, another volatile category, was up 0.3%.
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