Producer prices and retail sales inch higher as Fed weighs next policy decision

Investing.com — U.S. producer prices rose by more than anticipated in August, while retail sales unexpectedly edged higher, suggesting a mixed picture of sticky inflation and resilient consumer activity heading into next week’s key Federal Reserve interest rate decision.

Producer Prices Index (PPI)

• On a monthly basis, the Producer Prices Index (PPI) accelerated to 0.7% from an upwardly revised mark of 0.4% in July.
• Economists had expected a PPI reading of 0.4%.
• The PPI rate of 1.6% was faster than projections of 1.2% and far above the prior month’s level of 0.8%.

Retail Sales

• Retail sales increased by 0.6% month-on-month from a downwardly revised 0.5% in July.
• The figure was estimated to slow to 0.2%.