- Wholesale inflation rises overall in line with expectations in February.
- Annual PPI reaches highest level since October 2018.
- The dollar retreats and trimmed gains after data that slightly boosted Treasury bonds.
The producer price index (PPI) in the US it rose 0.5% in February, in line with expectations. In January it had climbed 1.3%. Compared to a year ago, the index increased 2.8%, higher than the 1.7% registered in January and the 2.7% of the market consensus; this being the highest level since October 2018.
The IPP subyacente, Without taking into account food or energy, it advanced 0.2% in February, below the 0.3% expected by according to the average of analysts’ estimates. The annual rate of the underlying PPI was 2.5%, which implies an increase from 2% in January.
The dollar the market fell back after the report, which sent Treasury yields lower. Later on Friday the preliminary estimate of the Consumer Confidence Index from University of Michigan expected to show a slight rise.
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