Wholesale prices rose 0.2% in August, in line with expectations

The producer price index was expected to increase 0.2% in August, according to the Dow Jones consensus forecast.

The producer price index increased 0.2% in August, the Bureau of Labor Statistics said Thursday. That matched the Dow Jones consensus estimate.

Excluding food and energy, PPI increased 0.3%, slightly hotter than the 0.2% consensus estimate. The core increase was the same when excluding trade services. "With PPI basically repeating yesterday's CPI reading and jobless claims in line with expectations, the decks have been cleared for the Fed to kick off a rate-cutting cycle," said Chris Larkin, managing director of trading and investing for E-Trade from Morgan Stanley. "The markets are anticipating an initial 0.25% cut, but the discussion will soon turn to how far and fast the Fed is likely to trim rates over time.

Continuing claims, which run a week behind edged just higher to 1.85 million, an increase of just 5,000 from the previous period.

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