US final demand prices rise more quickly than expected in September
By Alexander Bueso
Date: Wednesday 14 Oct 2020
(Sharecast News) - Producer prices in the States increased more than expected last month, boosted by higher prices for food.
According to the US Department of Labor, so-called final demand prices rose at a month-on-month clip of 0.4%, leading to an acceleration in the year-on-year rate of price gains -0.2% to 0.4% (consensus: 0.2%).
Similarly, the annual rate of increases in core final demand prices, which exclude food, energy and trade, picked-up from 0.3% to 0.7%.
Prices for final demand goods and services were both up by 0.4% on the month.
Food prices were the main culprit behind the rise in the former, increasing by 1.2% versus August, albeit following three straight months of outright declines, including a steep 4.9% drop in June.
Energy prices on the other hand dipped by 0.3% on the month following a 0.1% fall in August.
In final demand services meanwhile, trade prices, which are linked to retailers' margins, advanced 0.2% alongside a 0.4% rise in those of transportation and warehousing and a 0.5% increase in 'other services'.
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