US PPI Rises 0.4% M/M as Energy Pressure Builds

US PPI Rises 0.4% M/M as Energy Pressure Builds

US producer prices accelerated in August, with final-demand PPI rising from 0.1% to 0.4% m/m, matching consensus, while the annual rate reached 5.4%, slightly above the 5.3% forecast. The underlying measure excluding food, energy and trade services eased from 0.4% to 0.3% m/m, but still stood at 4.7% y/y, indicating that broader producer-price pressure remained…

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Fig. 1. Eurozone Key ECB Rate, %.

The ECB Raised Interest Rates, but Not Its Tone

As expected, the ECB raised its key interest rate by 25 basis points, and the tone of the accompanying statement was fairly optimistic. Although the Bank referred to mounting inflationary pressures and uncertainty stemming from the conflict in the Middle East, it raised its GDP growth forecasts for next year. Inflation forecasts exceed the ECB’s…

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