Investing.com - U.S. producer prices fell in August, according to data released on Wednesday.
Economists had forecast the PPI rising 0.2% last month and increasing 3.2% from a year ago.
Analysts had predicted core PPI to increase 0.2% month-on-month and 2.7% on an annualized basis.
Core PPI is a key gauge of underlying producer price pressures that excludes food and energy costs.
The Federal Reserve keeps its eye on this data because, when producers pay more for goods, they are more likely to pass price increases on to the consumer. In that sense, PPI could be considered a leading indicator of inflation.
The August consumer price index will be released on Thursday.
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