- Producer Price Index rises 0.4% in September against the 0.2% expected.
- Annual rate goes from 8.7% to 8.5%.
- Retail inflation for September will be released on Thursday.
The Producer Price Index of the United States registered a advance in September of 0.4%, above the 0.2% market consensus. The annual rate went from 8.7% in August to 8.5% in September, being that a reading of 8.4% was expected.
The underlying PPI in September it advanced 0.3% as expected, while the annual rate instead of remaining at 7.3% as indicated by the market consensus, fell to 7.2%.
The dollar rose in the market after the wholesale inflation data. USD/JPY hit new highs in more than 20 years, while EUR/USD turned negative for the day.
Later on Wednesday, in the second half of the American session, the Federal Reserve will publish the minutes of the September FOMC meeting. On Thursday it will be the turn of knowing the evolution of the Consumer Price Index for September, which is expected to rise 0.2%, and that the annual rate will drop from 8.3% to 8.1%.
Source: Fx Street
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