Thndr Claps » U.S. Claps » Economy 🏢 » PPI up more than expected 📈
The ClapThe producer price index (PPI) increased by 0.4% for September, higher than the expected 0.2%.
PPIThe PPI measures wholesale prices for goods and services produced by businesses.
The DeetsDespite the Fed’s efforts to slow down runaway inflation, the PPI still increased, up 8.4% YoY.
Why this MattersInflation has been an ongoing issue facing the US over the past year, reaching record highs and showing no signs of slowing down.
The Fed has already hiked interest rates 3 times concurrently, with more hikes expected in the coming year.
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