US August PPI above expectations; July indices revised lower

Summary: US producer price index (PPI) up 0.2% in August, above expectations; annual rate slows to 1.8%; “core” PPI up 0.3% over month, up 2.4% over year; Westpac: July’s figure revised down by 0.2 percentage points; short-term US Treasury yields flat, longer-term yields rise; rate-cut expectations generally firm; services prices up 0.4%, goods prices flat. Around the end of 2018, the annual inflation rate of the US producer price index...

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