US producer prices climbed 5.4% year over year in August, the hottest since 2022, but the beat was almost entirely a 24.1% diesel spike. Core PPI actually missed forecasts, complicating the Fed's decision ahead of Friday's CPI report.
Schwab's Liz Ann Sonders flags August headline PPI at 5.4% year over year, a step-up from July that leaves Friday's CPI as the last major print before the FOMC. Source
