Reported 2 months ago
U.S. producer prices in July rose by only 0.1%, falling short of economists' forecasts of a 0.2% increase. This modest rise was influenced by a 0.2% decline in service costs, marking the first decrease this year, amidst slowing inflation. The core producer price index remained unchanged, and with weak job data, expectations for a Federal Reserve rate cut have increased.
Source: YAHOO