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The Wall Street Publication > Blog > Economy > US producer costs rise barely above expectations in January
Economy

US producer costs rise barely above expectations in January

Editorial Board Published February 13, 2025
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US producer costs rise barely above expectations in January
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Payne Capital Administration president Ryan Payne joins ‘Varney & Co’ along with his tackle the markets.

U.S. producer costs elevated solidly in January, providing extra proof inflation was choosing up once more and strengthening monetary market views that the Federal Reserve wouldn’t be reducing rates of interest earlier than the second half of the 12 months.

The producer worth index for ultimate demand rose 0.4% final month after an upwardly revised 0.5% achieve in December, the Labor Division’s Bureau of Labor Statistics (BLS) stated on Thursday. Economists polled by Reuters had forecast the PPI rising 0.3%. Within the 12 months via January, the PPI superior 3.5% after growing 3.3% in December.

INFLATION RISES 3% IN JANUARY, HOTTER THAN EXPECTED

Fed Chair Jerome Powell informed lawmakers on Wednesday “we are close but not there on inflation,” including “we want to keep policy restrictive for now.”

The Fed left its benchmark in a single day rate of interest unchanged within the 4.25%-4.50% vary in January, having diminished it by 100 foundation factors since September, when it launched its coverage easing cycle. The coverage charge was hiked by 5.25 proportion factors in 2022 and 2023 to tame inflation.

TRUMP CALLS FOR LOWER INTEREST RATES TO GO ‘HAND-IN-HAND’ WITH TARIFFS: ‘LET’S ROCK AND ROLL, AMERICA’

President Donald Trump’s fiscal, commerce and immigration insurance policies are seen fanning inflation. A 25% tariff on items from Canada and Mexico was suspended till March. However a ten% extra tariff on Chinese language items went into impact this month.

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With January’s PPI report, the BLS up to date weights to mirror worth actions in 2024, and seasonal adjustment components, the mannequin that the federal government makes use of to iron out seasonal fluctuations from the information.

TAGGED:expectationsJanuarypricesproducerriseslightly
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