Economists forecast that U.S. wholesale prices edged higher last month.
They expect the Labor Department will report on Wednesday that its producer price index, which measures inflation before it reaches consumers, rose 0.2% in September. That would follow increases of 0.3% in August and 0.6% in July. Over the past 12 months, wholesale prices have declined 0.2% while core prices, which exclude volatile food and energy costs, are up a modest 0.6%.
Producer price index, monthly percent change, seasonally adjusted:
Americans have ramped up spending after a sharp pullback in the spring due to the pandemic, but the pace of that growth has slowed.
U.S. retail sales increased 0.6% in August. That followed increases of 0.9% in July, 8.6% in June and 18.3% in May. One reason spending growth has slowed is many people who lost jobs are no longer receiving a $600-a-week boost in their unemployment checks. Did the trend change in September? Find out Friday, when the Commerce Department serves up its latest retail sales data.
Retail sales, monthly percent change, seasonally adjusted:
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