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Producer Price Index rises 1% in January, higher than the expected increase of 0.5%

The figures of US wholesale inflation January were higher than expected, repeating what retail inflation showed last week. The Producer Price Index (IPP) rose 1% in January, more than the 0.5% increase expected by the market consensus, and higher than the 0.4% increase in December. The annual rate fell from 9.8% to 9.7%, which was higher than the expected 9.1%.

The IPP underlying, without taking food or energy into account, registered an increase of 0.8% in January, higher than the 0.5% consensus and the 0.6% increase in December. The annual increase was 8.3%, above the 7.9% expected, although lower than the 8.5% of last month (revised from 8.3%).

At the same time, a rise in the index was known Manufacturing Empire February from -0.7 to 3.1, lower than the expected 12.15. The dollar initially it rose in the market, but after a few minutes it fell back marking new lows against the euro and the Swiss franc; and with modest falls against the rest of the currencies.

Source: Fx Street

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