US producer prices slow in September

The US Producer Price Index (PPI) slowed in September but remained unchanged on a monthly basis as gasoline prices weakened, suggesting further progress on inflation.

The PPI for final demand retreated to 1.8% in September — the slowest pace since February — from an upwardly revised 1.9% in August, according to the Bureau of Labor Statistics.

The PPI was recently expected to rise by 1.6%.

On a monthly basis, the PPI remained stable, but was expected to rise by 0.1% after increasing by 0.2% in August.

The PPI, excluding food & energy, rose to 2.8% year-on-year (YoY) from an upwardly revised 2.6% in August. Accordingly, the pace of increase slowed to 0.2% on a monthly basis from 0.3% in August.