USA PPI (YoY) For August 1.7% Vs 1.8% Est.; 2.1% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Producer Price Index (PPI) for August increased by 1.7% year-over-year, which is slightly below the estimated 1.8% and lower than the previous month's 2.1%. This indicates a slower pace of inflation in producer prices.
September 12, 2024 | 12:30 pm
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POSITIVE IMPACT
The SPY ETF, which tracks the S&P 500, may experience a slight positive impact as the lower-than-expected PPI suggests a slower pace of inflation, potentially easing concerns about aggressive monetary tightening.
The PPI is a key indicator of inflation, and a lower-than-expected figure can lead to positive market sentiment as it may reduce the likelihood of aggressive interest rate hikes. This can be beneficial for the SPY ETF, which tracks the S&P 500.
CONFIDENCE 80
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