The U.S. Producer Price Index (PPI) for final demand increased by 0.2% in October 2024, seasonally adjusted, according to the Bureau of Labor Statistics.
The U.S. Producer Price Index (PPI) for final demand increased by 0.2% in October 2024, seasonally adjusted, according to the Bureau of Labor Statistics. This follows a 0.1% rise in September and a similar 0.2% increase in August. Over the 12 months ending in October, the PPI for final demand increased by 2.4% on an unadjusted basis.
The October increase was primarily driven by a 0.3% rise in prices for final demand services, while prices for final demand goods saw a modest gain of 0.1%. Excluding food, energy, and trade services, the core index for final demand increased by 0.3% in October, up from a 0.1% rise in September. Over the past year, core PPI rose by 3.5%, indicating underlying inflationary pressures in producer prices.
Source: U.S. Bureau of Labor Statistics
Global markets remained focused on U.S. fiscal concerns, shifting central bank expectations, and renewed Middle East tensions.
Fed Inflation Concerns RemainThe latest Federal Reserve minutes show that inflation remains a central concern for policymakers, even as recent economic data has reduced the urgency for another rate increase. Some officials believe price pressures are becoming more widespread, while a smaller group directly supported further tightening.
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Dollar Falls on Debt Concerns as Yields Rise (24 – 28 August)Global markets entered the week with the US dollar under continued pressure as concerns over federal debt and Treasury market management moved to the center of investor attention. The Dollar Index hovered near 98.8 following sharp losses in the previous week, while the US Treasury’s expanded bond buyback programme pushed longer-term yields and the dollar lower. The move supported gold, silver, and major currencies, while investors assessed its longer-term implications for US borrowing costs and the yield curve.
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