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
Dollar strength remained a key pressure across major currencies and precious metals as Federal Reserve officials reinforced expectations for further monetary tightening.
Renewed expectations for further Federal Reserve tightening kept the dollar supported as policymakers continued to warn about persistent inflation risks.
Fed, BOJ Hikes Lift Dollar as Oil Falls (21 – 25 September)Global markets entered the week balancing tighter monetary policy against signs of easing Middle East energy risks. The Federal Reserve remains the main macro driver after raising rates to 3.75%–4.00%, its first hike since 2023, and signaling that another increase remains possible this year. The Dollar Index advanced to 100.4, while Treasury yields remained elevated. The Bank of Japan also tightened policy, raising rates to 1.25%, although dissent within the board suggested that future increases could come at a slower pace.
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