- IPP rises 1.1% in June, surpassing the 0.8% market consensus.
- Core PPI advances 0.4%, below the 0.5% expected.
- The dollar without significant changes, remains firm in the area of maximums in decades.
The Producer Price Index (PPI) in June rose 1.1% above the 0.8% expected and higher than the 0.9% in May (revised higher from 0.8%). The annual rate went from 10.7% to 11.3%. It is the highest annual change since March’s record of 11.6%.
The underlying PPI rose 0.4% in June, below the 0.5% expected and less than the 0.6% increase in May (which was revised from 0.5%). Compared to twelve months ago, the rise was 8.2%, higher than the 8.1% expected.
At the same time, the weekly report of requests for unemployment benefits was published. The June retail sales report will be released on Friday. On Wednesday, a rise in annual retail inflation had been known to 9.1%, the maximum since 1981. dollar it retreated modestly after the data.
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
