United States producer inflation jumps 6.3% in September vs. 5.3% expected
Producer inflation in the United States (US), as measured by the change in the Producer Price Index, climbed to 6.3% in September from 5.6% in August. This print surpassed the market expectation of 5.3% by a wide margin.
Other details of the publication showed that the PPI rose by 1.3% on a monthly basis, compared to analysts' estimate of 0.5%.
The PPI ex Food & Energy increased by 0.7% and 5% on a monthly and yearly basis, respectively. Both of these prints came in above experts' forecasts.
Market reaction to US producer inflation
The US Dollar (USD) Index gathers recovery momentum following the hot producer inflation prints and erases its daily losses. At the time of press, the USD Index was still down 0.3% on the day at 102.22.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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