Following last week's employment data, this week's inflation figures were closely watched for insights into the future of monetary policy.
According to the data, the number of open jobs in the US (JOLTS) fell to 7.18 million in July, the lowest level since September 2024 and below expectations.
Private sector employment in the country also increased by 54,000 jobs in August, below market expectations.
Non-farm employment in the US increased by 22,000 jobs in August, falling short of expectations. The unemployment rate, which rose from 4.2% to 4.3%, also reached its highest level since October 2021.
The number of people filing for unemployment benefits for the first time in the country also rose by 27,000 to 263,000 in the week ending Sept. 6, reaching its highest level since October 2021.
Meanwhile, this week, the Bureau of Labor Statistics revised its employment statistics, finding that 911,000 fewer nonfarm jobs were created in the 12-month period ending in March 2025 than initially reported.
On the inflation front, the US Producer Price Index (PPI) fell by 0.1% in August, marking the first monthly decline since April. The PPI rose 2.6% year-on-year, falling short of expectations.
The Consumer Price Index (CPI) rose 0.4% month-on-month in August, exceeding expectations, and rose 2.9% year-on-year, in line with expectations.
Annual inflation reached its highest level since January during this period.
While producer inflation slowed on an annual basis, the acceleration in consumer inflation drew attention.
AzVision.az
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