U.S. PPI rose less than expected in July, and economists expect the Federal Reserve to start a series of rate cuts next month

Odaily News U.S. producer prices rose less than expected in July, highlighting continued easing inflationary pressures. Data released on Tuesday showed that the PPI index, a proxy for final demand, rose 0.1% from the previous month. The median forecast of a survey of economists by institutions was a 0.2% increase. In addition, compared with a year ago, the PPI rose 2.2%. Excluding the more volatile food and energy categories, the PPI in July was flat from the previous month, the mildest reading in four months. The more closely watched CPI data will be released on Wednesday, and the index is expected to show a small increase. Against the backdrop of fading inflationary pressures, weak employment data in July prompted economists to expect the Federal Reserve to implement a series of interest rate cuts starting next month. (Jinshi)