Producer Prices Flat In August (DIA, SPY, QQQ, TLT)
Producer prices were flat in August, and up 0.1% excluding food and gas.
Expectations were for prices to be flat month-over-month, and grow 0.1% when excluding food and energy.
Year-over-year, prices were up 1.8% both including and excluding food and gas, which was in-line with expectations.
The report showed that in August, prices for services gained 0.3% while prices for good goods fell 0.3%.
In July, PPI grew 0.1% and 0.2% excluding food and energy, and on a year-over-year basis the index grew 1.7% and 1.6% when stripping out food and energy.
Following the report, Ian Shepherdson at Pantheon Macro said, "In one line: No near-term inflation threat."