US PPI causes Dollar surge

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Despite the US Consumer Price Index not impacting the markets on Tuesday, there is still inflation at the producer level. Namely, the publication of the US Producer Price Index has revealed that inflation in the US is persistent.

The new data indicates that the US Federal Reserve still has to combat inflation by tightening monetary policy. The Fed cannot cut interest rate, if prices continue to rise. Due to this reason the US Dollar index surged. The news caused a surge of more than 50 points that easily passed above the 103.00 mark.

The US Producer Price Index was forecast to show an increase of 0.3%. Actual price increase was 0.6%. Meanwhile, the Core PPI was expected to come in at 0.2%, but turned out to be a 0.3% price hike.

Previously, the United States Consumer Price Index hit the market forecast by showing a monthly price increase of 0.4%. However, the Core PCI was above the forecast of 0.3% by revealing core price growth of 0.4%.
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