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Thndr Claps » U.S. Claps » Economy 🏢 » PPI up more than expected 📈

PPI up more than expected 📈

by Omar El Shorafa
October 13, 2022
PPI, Claps, US Economy

The Clap
The producer price index (PPI) increased by 0.4% for September, higher than the expected 0.2%.

PPI
The PPI measures wholesale prices for goods and services produced by businesses.

The Deets
Despite the Fed’s efforts to slow down runaway inflation, the PPI still increased, up 8.4% YoY.

Why this Matters
Inflation 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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