finance economics

JPMorgan Chase's profits in the third quarter declined due to $3.11 billion in provisions for bad debts offsetting the income from its investment banking sector

The growth rate of the U.S. Producer Price Index has slowed, and the market widely expects the Federal Reserve to reduce interest rates by 25 basis points again in November

2024/10/14

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The overall Producer Price Index (PPI) in the U.S. for September shows a continuing decline in its rate of increase, indicating that inflationary pressures are easing. Economists and the market widely expect the Federal Reserve to implement another rate cut in November.

The U.S. Department of Labor reported on the 11th that the overall PPI in September remained unchanged compared to August, falling short of the expected 0.1% rise and the 0.2% increase in August. Year-over-year, it increased by 1.

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8%, surpassing the expected 1.6%. However, the August data was revised to 1.9%, making September's annual increase the lowest since February of this year. Food prices surged by 1%, marking the largest increase since February, while energy prices dropped by 2.7%.

Excluding food and energy, the core CPI rose 0.2% compared to August, meeting forecasts, and the monthly increase was lower than August's 0.3%. Year-over-year, it rose by 2.8%, above the expected 2.

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