Investing.com - Producer price inflation in the U.S. fell unexpectedly in September, while core prices inched in line with forecasts, official data showed on Tuesday.
In a report, the Bureau of Labor Statistics said that producer prices declined by a seasonally adjusted 0.1% in September, compared to expectations for a 0.2% increase, after rising 0.3% in August.
Year-over-year, the producer price index rose at an annualized rate of 0.3% last month, below expectations for a 0.6% gain. PPI rose at an annualized rate of 1.4% in August.
The core producer price index eased up 0.1% in February, in line with expectations after holding flat in August.
Core produces prices rose at an annualized rate of 1.2% last month, after climbing 1.1% in August.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.21% to trade at 1.3758.
Meanwhile, U.S. stock future indices pointed to a higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.1% at the open, S&P 500 futures indicated an increase of 0.05%, while the Nasdaq 100 futures signaled a rise of 0.05%.
In a report, the Bureau of Labor Statistics said that producer prices declined by a seasonally adjusted 0.1% in September, compared to expectations for a 0.2% increase, after rising 0.3% in August.
Year-over-year, the producer price index rose at an annualized rate of 0.3% last month, below expectations for a 0.6% gain. PPI rose at an annualized rate of 1.4% in August.
The core producer price index eased up 0.1% in February, in line with expectations after holding flat in August.
Core produces prices rose at an annualized rate of 1.2% last month, after climbing 1.1% in August.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.21% to trade at 1.3758.
Meanwhile, U.S. stock future indices pointed to a higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.1% at the open, S&P 500 futures indicated an increase of 0.05%, while the Nasdaq 100 futures signaled a rise of 0.05%.