US producer prices are above expected

Source: Dukascopy Bank SA


The US Bureau of Labor Statistics has published the monthly Producer Price Index data sets. In general, the data revealed higher than expected price growth at the producer level. The US Dollar is reacting to the news by surging.

Market consensus forecast was that the US Producer Price Index will increase on a month-to-month basis by 0.1%. Actual price growth is 0.2%.

Meanwhile, the expectations for the Core Producer Price Index that excludes food and energy prices was an increase of 0.2%. The actual increase is 0.3%.

The higher inflation is pushing the USD up due to the indication that inflation might return, if the US Federal Bank reduces interest rates too soon at too high rate.
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