CORRECTION: USA Core PPI (MoM) For August 0.2% Vs 0.2% Est.; 0.4% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Core Producer Price Index (PPI) for August was reported at 0.2%, in line with estimates but lower than the 0.4% reported in the previous month.
September 14, 2023 | 12:42 pm
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NEUTRAL IMPACT
The reported PPI, which is in line with estimates but lower than the previous month, may have a neutral to slightly negative impact on SPY in the short term.
The PPI is a key indicator of inflation, which can influence the Federal Reserve's decisions on interest rates. While the PPI is in line with estimates, indicating expected inflation levels, it is lower than the previous month, which could suggest a slowing economy. This could have a neutral to slightly negative impact on SPY, which tracks the S&P 500 and is sensitive to overall economic conditions.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50