The producer price index, a gauge of prices received at the wholesale level, declined 0.1% in August, in line with expectations.
The prices that producers receive for goods and services declined in August, a mild respite from inflation pressures that are threatening to send the U.S. economy into recession.
Wholesale services prices increased 0.4% for the month, indicating a further transition for a pandemic-era economy where goods inflation soared. Final demand services prices increased 0.4% for the month, with the balance of that coming from a 0.8% increase in trade services. The PPI can be leading indicator for inflation as wholesale prices feed through the economy. However, it's importance has been tempered over the years as manufactured goods make up less of a share of total spending.
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