Core PPI (YoY) (Jul) 2.4% vs 2.3% Est.
Portfolio Pulse from Benzinga Newsdesk
The Core Producer Price Index (PPI) for July has come in at 2.4%, slightly higher than the estimated 2.3%.
August 11, 2023 | 12:31 pm
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NEUTRAL IMPACT
The higher than expected Core PPI could potentially impact the SPY ETF, as it indicates increased inflation which could influence the Federal Reserve's decisions on interest rates.
The Core PPI is a key indicator of inflation. A higher than expected figure suggests increased inflation, which could influence the Federal Reserve's decisions on interest rates. This, in turn, could impact the performance of the SPY ETF, which tracks the S&P 500 and is sensitive to changes in the broader economic environment.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75