Producer Prices in USA
USA - Producer Prices
Inflation declines to lowest level since January in October
Inflation came in at 7.7% in October, down from September’s 8.2%. October's figure marked the lowest inflation rate since January, and was below market expectations. The figure was primarily due to lower price pressures for energy and food. That said, inflation was still well above the Federal Reserve’s 2.0% target.
The trend pointed up mildly, with annual average inflation coming in at 8.0% in October (September: 7.9%). Meanwhile, core inflation fell to 6.3% in October, from the previous month's 6.6%.
Lastly, consumer prices rose 0.44% from the previous month in October, largely in line with the 0.39% rise logged in September. October's uptick was the highest reading since June.
FocusEconomics panelists see inflation averaging 4.0% in 2023, which is up 0.2 percentage points from last month. In 2024, our panel expects inflation to average 2.5%.
United States - Producer Prices Data
|Inflation (PPI, annual variation in %)||-0.9||0.4||2.3||2.9||1.7|
5 years of economic forecasts for more than 30 economic indicators.
United States Facts
|Bond Yield||1.92||-0.43 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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November 16, 2022
Retail sales increased 1.3% month-on-month in seasonally-adjusted terms in October (September: 0.0% mom).
November 10, 2022
Inflation came in at 7.7% in October, down from September’s 8.2%.
November 4, 2022
Total non-farm payrolls increased by 261,000 in October, down from 315,000 in September but beating market expectations.
November 2, 2022
At its meeting on 1–2 November, the Federal Open Market Committee (FOMC) decided to raise the target range for the federal funds rate by 75 basis points to 3.75–4.00%—the fourth successive 75 basis-point hike. The decision to hike was aimed at containing inflation, which has been running well over the Central Bank’s 2.0% target in recent months due to external price pressures and the tight domestic labor market.
October 27, 2022
GDP rebounded in Q3, expanding 2.6% in seasonally adjusted annualized rate terms (SAAR), contrasting the 0.6% contraction recorded in the second quarter and coming in slightly above market expectations. Household spending increased 1.4% in the third quarter, which was below the second quarter's 2.0% expansion, with consumption likely weighed on somewhat by elevated inflation.