The Producer Price Index increased by 1.7% in August to 174.3 (1982=100), expected to increase by 1%, following a 0.9% decline in July and a 1.8% increase in June. Over the year, the index has decreased by 4.3%. The index for energy goods advanced by 8% in August, and prices for consumer foods advanced by 0.7%. Excluding food and energy prices, Core PPI increased by 0.2%, following a 0.1% decrease in the previous month.
Retail Sales advanced by 2.7% in August to $351.4 billion, better than expected (1.9% growth), after a 0.2% drop in July, revised downward from the originally reported 0.1% decrease. Over the past year, retail sales volume has reduced by 6.0%. Sales in automobiles proved to be strongest in August, which are up 10.6% over the month, as a result of the Cash for Clunkers program. As a result, Retail Sales excluding autos had a smaller increase, by 1.1%. Over the past year, retail sales excluding autos have declined by 6.2%.
Business Inventories are scheduled for release today at 10:00 AM EST and are expected to fall by 1%, following a 1.1% drop in June to $1,350.0 billion.
Upcoming Releases
Business Inventories (09/15 at 10:00 AM EST)
CPI (09/16 at 8:30 AM EST)
Industrial Production (09/16 at 9:15 AM EST)
