U.S. PPI falls to 14-month low in October as supply bottlenecks ease
2022.11.15 08:47
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U.S. PPI falls to 14-month low in October as supply bottlenecks ease
Budrigannews.com – U.S. fell to its lowest in over a year in October, bolstering hopes that pipeline inflation pressures have peaked thanks to the improvement in global supply chains over recent months.
rose by a modest 0.2% on the month and were up 8.0% from a year earlier, comfortably below the 8.3% that was the consensus forecast.
The Bureau of Labor Statistics also revised down its estimate of producer prices in September to show a rise of only 0.2%, rather than the 0.4% initially reported.
, which strips out volatile food and energy components, was even more placid. Prices stagnated on the month, bringing the down to 6.7%, its lowest since August last year.
Massive disruptions to seaborne trade had caused worldwide shortages of components and other intermediate goods earlier in the year, leading automakers and others to restrict output and squeeze prices higher. Those bottlenecks have, by an large, unwound in recent months, however.
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