US annual PPI inflation declines to 2.9% in January vs. 2.6% expected
Source Fxstreet
- US PPI rose at a stronger pace than expected in January.
- US Dollar Index stays in daily range below 98.00.
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), declined to 2.9% on a yearly basis in January from 3% in December, the US Bureau of Labor Statistics (BLS) reported on Friday. This reading came in above the market expectation of 2.6%. On a monthly basis, the PPI rose 0.5% following the 0.4% increase (revised from 0.5%) recorded in December.
Other details of the report showed that the PPI ex Food & Energy was up 3.6% on a yearly basis in January, compared to the market forecast of 3%.
Market reaction
The US Dollar Index showed no immediate reaction to producer inflation figures and was last seen trading marginally higher on the day at 97.82.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin (BTC) and MicroStrategy (MSTR) stock plunged on Tuesday after the company disclosed its first BTC sale in 41 months. The move reignited debate over how much the asset depends on one corporate
Google stock fell after parent Alphabet (GOOGL) announced an $80 billion equity raise to fund artificial intelligence (AI) infrastructure. The move reverses years of buybacks that steadily shrunk its
The total crypto market capitalization has fallen sharply to $2.32 trillion. The decline has wiped out roughly 17% of the market value in less than three weeks.Bitcoin (BTC) trades near $67,400, down
Gold replaces US Treasuries as top global reserve asset, latest ECB report saysA recent report published by the European Central Bank today has stated that central banks globally now hold more gold than US government bonds and treasuries in their reserves for the very first time. Geopolitical tensions, concerns over a risk of sanctions, and a growing desire among some countries to lessen their exposure to dollar-denominated...
A recent report published by the European Central Bank today has stated that central banks globally now hold more gold than US government bonds and treasuries in their reserves for the very first time. Geopolitical tensions, concerns over a risk of sanctions, and a growing desire among some countries to lessen their exposure to dollar-denominated...
Bitcoin price started a fresh decline below the $70,000 zone. BTC is consolidating and might continue to move down if it dips below $66,000. Bitcoin failed to stay above $70,500 and extended losses.
