He Producer Price Index (IPP) rose 0.3% in December, below the 0.4% increase in the market consensus. The data marks an acceleration with respect to the rise of 0.1% in November. Compared to a year ago, the increase was 0.8%.
He IPP without taking into account energy, or power, had a rise of 0.1%, lower than the 0.2% expected. Compared to a year ago, the increase in the underlying PPI was 1.2%, below the 1.4% of the previous month and lower than the 1.3% expected.
He dollar backed off after the report. At the same time, the retail sales report was also published, which showed figures well below expectations. The industrial production report for December and the preliminary consumer confidence reading for January from the University of Michigan will be released later on Friday.
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