Understanding Producer Price Index
Understanding Producer Price Index
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U.S. producer prices increased by the most in more than 1-1/2 years in July, but the overall trend in producer inflation remained subdued amid signs the economy's recovery from the pandemic recession was faltering.
美國7月份生產者價格指數(PPI)創下逾一年半以來的最大漲幅，但由於有跡象表明，美國經濟從大流行衰退中復甦步履蹣跚，生產者通脹的整體趨勢依然低迷。
The jump in producer prices reported by the Labor Department on Tuesday, however, further diminished the risk of deflation, a decline in the general price level. Deflation is harmful during a recession as consumers and businesses may delay purchases in anticipation of lower prices.
然而，美國勞工部(Labor Department)週二公佈的生產者價格指數(PPI)躍升，進一步降低了通貨緊縮的風險，即總體價格水平的下降。在經濟衰退期間，通貨緊縮是有害的，因為消費者和企業可能會因為預期價格下跌而推遲購買。
Fed officials will see no reason to be on high alert for inflation pressures after today's modest rebound in producer prices and there is little reason for them to temper their highly stimulative monetary policy.
-Chris Rupkey, chief economist at MUFG in New York
在今日生產者物價温和反彈後，美聯儲官員將認為沒有理由對通脹壓力保持高度警惕，他們也幾乎沒有理由緩和其高度刺激性的貨幣政策。
--三菱UFG駐紐約首席經濟學家Chris Rupkey
What is Producer Price Index (PPI)?
什麼是生產者物價指數(PPI)？
The producer price index (PPI), published by the Bureau of Labor Statistics(BLS), is a group of indices that calculates and represents the average movement in selling prices from domestic production over time, according to the investopedia.
由勞工統計局(BLS)發佈的生產者物價指數(PPI)是一組計算和代表國內產品銷售價格隨時間的平均變動，根據Investopedia的説法。
The PPI is different from the CPI in that it measures costs from the viewpoint of industries that make the products whereas the CPI measures prices from the perspective of consumers.
PPI與CPI的不同之處在於它從製造產品的行業的角度來衡量成本，而CPI則從消費者的角度來衡量價格。
In other words, PPI tracks change to the cost of production, so we can treat PPI as a leading indicator for CPI.
換句話説，PPI跟蹤生產成本的變化，因此我們可以將PPI作為CPI的領先指標。
What does Producer Price Index (PPI) mean?
生產者物價指數(PPI)意味着什麼？
The producer price index can be treated as a leading indicator sometimes, which shows the same trend with S&P 500.
生產者物價指數有時可以被視為領先指標，這與標準普爾500指數的走勢相同。
閲讀更多內容：宏觀觀點：美國消費者物價走高。什麼意思？
source by Reuters, Tradingeconomics and Investopedia
來源：路透社，TradingEconomics和Investopedia
editor: Eric
編輯：埃裏克