US PPI rose by 5.4% year-on-year in August, exceeding the Federal Reserve’s inflation target

According to CNBC, U.S. wholesale prices rose in August. The PPI report released on Thursday may play a significant role in the Federal Reserve's upcoming interest rate decision. Data shows that in August, the PPI rose by 0.4% month-on-month after seasonal adjustment, in line with market expectations, and by 5.4% year-on-year, still far above the Federal Reserve’s 2% inflation target and 0.1 percentage point higher than market expectations.