U.S. producer prices unexpectedly fell in September, weighed down by decreases in the costs of goods and services.
U.S. producer prices unexpectedly fell in September, leading to the smallest annual increase in nearly three years, which could give the Federal Reserve room to cut interest rates again later this month.
In the 12 months through September the PPI increased 1.4%, the smallest gain since November 2016, after rising 1.8% in August. Economists polled by Reuters had forecast the PPI nudging up 0.1% in September and advancing 1.8% on a year-on-year basis. Some economists expect the U.S. central bank could cut rates at its Oct. 29-30 policy meeting amid signs that the Trump administration's 15-month trade war with China, which has weighed on business investment and pushed manufacturing into recession, was impacting the broader economy.
Wholesale food prices rebounded 0.3% in September, lifted by a 26.8% surge in the cost of chicken eggs. Food prices dropped by 0.6% in August. Core goods prices fell 0.1% last month. They were unchanged in August.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Treasury yields tick higher as traders monitor US-China trade talksU.S. government debt yields edged higher on Monday morning as traders digested last week's jobs report and monitored trade developments between Washington and Beijing.
Read more »
US STOCKS SNAPSHOT-Wall Street slumps as visa restrictions stoke U.S.-China worriesWall Street slumps after the U.S. imposes visa restrictions on Chinese officials, citing treatment of Muslim minorities; S&P 500 closes down more than 1.5 percent
Read more »
US-Mexico border arrests continued to drop in SeptemberThere were nearly 40,000 arrests on the southern border in September, which was the lowest month this fiscal year, according to a source familiar with the data. For comparison, there were nearly 133,000 apprehensions in May.
Read more »
'They abandoned us': Commanding general of US-allied Kurdish forces rails against US plans to pull back from SyriaPresident Donald Trump's sudden decision to pull back U.S. forces in Syria ahead of a possible Turkish assault on U.S. partners on the ground in the war-torn country's northeast has sparked a fierce backlash. The move has been condemned by Republican and Democratic lawmakers, with U.S. officials
Read more »
Desperate to fill teacher shortages, US schools are hiring teachers from overseasDesperate to fill teacher shortages, some US schools are hiring teachers from overseas. 'When you really don't have any other applicants, how are you going to fill those spots?' one former principal said.
Read more »