The Bureau of Labor Statistics of the Department of Labor explained that this is due to the increase in demand for services of 0.2% that has been offset by the 0.2% decline in demand for goods.

The U.S. producer price index (PPI) stagnated in September compared with a 0.2% rise in the previous month, the U.S. Department of Labor's Bureau of Labor Statistics reported Friday.

The government agency explained that this situation was caused by a 0.2% increase in demand for services, which was offset by a 0.2% decline in demand for goods.

The underlying index of production inflation, which excludes the impact of energy, food and trade due to the greater volatility of their prices, rose by 0.1% in September, one-tenth less.

On a year-on-year basis, headline prices were 1.8% above the levels of the ninth month of 2023, while underlying prices were 3.2% higher.

CPI DATA

The same statistical division of the Department of Labor reported yesterday that the US consumer price index (CPI) remained at 2.4% year-on-year in September, which translated into a slowdown of one-tenth and its lowest figure since February 2021.

Core inflation closed with an increase of 3.3%, one tenth more than the previous month. In this sense, food prices rose by 2.3% year-on-year, while energy was 6.8% cheaper in September than twelve months earlier.