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Politics : Formerly About Advanced Micro Devices
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To: Brumar89 who wrote (1311355)8/20/2021 1:03:05 PM
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Inflation Hits Highest Since 1974 in Philly Fed Manufacturing Survey as Growth Unexpectedly Slows

Inflation signals climbed in August even while the pace of growth in manufacturing unexpectedly slowed in August, according to a survey from the Federal Reserve Bank of Philadelphia.

The Philadelphia Fed’s survey of manufacturers showed the current activity index slipping from 21.9 to 19.4 in August, the regional Fed bank said Thursday.

Economists had forecast an increase in the index to 25.

Yet the slowdown in the pace of growth did not slow down price increases. To the contrary, the price indexes climbed in August.

The index of current prices received by manufacturers for their products increased 7 points to 53.9, its highest reading since May 1974. The index for prices paid for components and materials edged up 2 points to 71.2, after dropping 10 points last month from June’s 42-year high.
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