美国8月生产者价格指数环比微跌

Core Viewpoint - The U.S. Producer Price Index (PPI) unexpectedly declined in August, primarily due to a drop in service prices, indicating potential weaknesses in domestic demand and trade service profit margins [1][1][1] Group 1: PPI Data - In August, the PPI decreased by 0.1% month-over-month, contrary to market expectations of a 0.3% increase [1][1][1] - The PPI had increased by 0.7% in July after seasonal adjustments [1][1][1] - Year-over-year, the PPI rose by 2.6% in August, which is lower than the 3.3% increase recorded in July [1][1][1] Group 2: Contributing Factors - The primary reason for the PPI decline was a 0.2% decrease in service prices [1][1][1] - Analysts noted that the contraction in trade service profit margins suggests that domestic companies may be absorbing some costs associated with import tariffs [1][1][1] - The data may also reflect a weakening in domestic demand amid a soft labor market [1][1][1] Group 3: Market Implications - Following the PPI data release, the likelihood of a 0.5 percentage point rate cut by the Federal Reserve in September increased to approximately 10% [1][1][1] - The next Federal Reserve monetary policy meeting is scheduled for September 16-17 [1][1][1]