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persistentsys.com

Stage

Other Investors | Alive

About Persistent

Persistent is an IT company. It specializes in digital transformation, digital business strategy, innovation & optimization, digital product engineering, data-driven business & intelligence, core it modernization , and identity, access and privacy management. The company is based in Pune, India.

Persistent Headquarter Location

Senapati Bapat Road Bhageerath, 402 E

Pune, 411016,

India

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Latest Persistent News

U.S. Producer Prices Rise More Than Forecast In Sign Of Persistent Inflation

May 12, 2022

U.S. Producer Prices Rise More Than Forecast In Sign Of Persistent Inflation 7:04 PM IST, 12 May 2022 7:04 PM IST, 12 May 2022 7:04 PM IST, 12 May 2022 Save (Bloomberg) -- Prices paid to US producers rose at a solid pace in April, signaling that elevated consumer inflation could persist for longer than expected, keeping the Federal Reserve geared toward aggressive rate hikes. (Bloomberg) -- Prices paid to US producers rose at a solid pace in April, signaling that elevated consumer inflation could persist for longer than expected, keeping the Federal Reserve geared toward aggressive rate hikes. The producer price index for final demand increased 11% from April of last year and 0.5% from the prior month, driven by goods, Labor Department data showed Thursday. That followed sizable upward revisions to the March figures. Excluding the volatile food and energy components, the so-called core PPI increased 0.4% from a month earlier and was up 8.8% from a year ago. While that measure rose at a softer-than-expected monthly pace, March was revised up to a 1.2% advance. The median forecasts in a Bloomberg survey of economists called for a 10.7% year-over-year increase for the overall PPI and a 0.5% monthly advance. The data, while moderating somewhat from March, suggest persistent inflation in the production pipeline will continue to filter through to consumer prices, which also slowed from the prior month. Producers are likely to continue facing higher costs as Russia’s war in Ukraine and Covid-related lockdowns in China further strain supply chains, adding to the probability they’ll pass those expenses onto consumers. Fed officials raised rates by the most since 2000 last week in their strongest move yet to tamp down price pressures, but such global headwinds are putting the central bank’s 2% inflation goal increasingly out of reach. Chair Jerome Powell and his colleagues have signaled that they’re open to several half-point increases in their benchmark rate in the months ahead. “The Fed will want to see clearer evidence that inflation is cooling and higher interest rates are slowing demand before they start thinking about the endpoint of the current rate hike cycle,” Bill Adams, chief economist at Comerica Bank, said in a note. Stock futures dropped and Treasuries rallied after the report. Services Flat Prices of goods climbed 1.3% in April, including gains in categories like motor vehicles, diesel fuel and eggs. While services inflation was flat, prices for truck transportation of freight rose. Energy, which spiked last month following Russia’s invasion of Ukraine, moderated in April, rising 1.7% compared to 6.4% in March. Producer prices excluding food, energy, and trade services -- which strips out the most volatile components of the index -- rose 0.6% from March, and 6.9% from a year ago. Costs of processed goods for intermediate demand, which reflect prices earlier in the production pipeline, increased 2.2% from a month earlier. Economists look to some categories in the PPI report to gauge the impact on the personal consumption expenditures price index, which the Fed uses as its preferred inflation metric. The PPI report showed some softening in healthcare services including hospital care, which could signal weaker core PCE compared to core CPI, according to Neil Dutta, head of US economic research at Renaissance Macro Research LLC. Separate data Thursday showed initial claims for state jobless benefits crept up by 1,000 to 203,000 last week, consistent with a solid labor market. Continuing claims dropped to the lowest level since 1970. (Adds economist’s comment)

  • Where is Persistent's headquarters?

    Persistent's headquarters is located at Senapati Bapat Road, Pune.

  • What is Persistent's latest funding round?

    Persistent's latest funding round is Other Investors.

  • Who are the investors of Persistent?

    Investors of Persistent include Norwest Venture Partners.

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