The annual Producer Price Index climbed 2.6 per cent, according to the Bureau of Labor Statistics. Economists had predicted a jump of 3.3 per cent.
On a monthly basis, wholesale prices fell 0.1 per cent, falling well short of Wall Street estimates of a rise of 0.3 per cent.
The data comes after an unexpectedly steep annual rise of 3.3 per cent in wholesale prices in July appeared to signal that Trump’s aggressive tariffs had begun to feed through to the US economy.
But the more muted figure for August complicates that picture.
If it's surprising, not so surprising would be a 50bps rate cut.
Strange headline. It declined slightly from an unexpectedly high level.
Seems more accurate to say it reverted to the trend of still higher than target level inflation.
FT are totally against Maganomics, that's why this headline.
I get it but misleading headlines are lame
I think it's not misleading completely as it also tells that the "projections by economist went wrong in the expectations."
Is that why Bitcoin price jumped a bit? Woke up and bought some sats and got 218 less sats than yesterday for my daily DCA.
That's the most probable reason.
funny how people in the West trust statistics.
doesn't matter that the state changes numbers post factum (-1 mln new jobs news today), or the prices in the stores you see don't reflect the official inflation numbers.
people in the East learned that the hard way long ago
PS you'll see numbers are slightly "corrected" to make Fed do one thing or another
I can see these corrections can serve to make inflation look better and jobs look worse than expected, therefore allowing the Fed to cut rates without looking like they are caving to Trump, but simply being diligent with what the cold hard data tells em