Summary
- The US December Producer Price Index (PPI) fell short of expectations, indicating a potential decline in consumer prices.
- Core producer prices showed lower-than-expected growth, providing reassurance to investors.
- As a result, Bitcoin (BTC) eased some inflation concerns and rose by 6.12%.
The December Producer Price Index (PPI) in the United States fell short of market expectations. Producer prices are considered a leading indicator of consumer prices as they are reflected in final consumer goods prices after a certain period.
According to the US Department of Labor on the 14th (local time), the US December PPI rose by 0.2% from the previous month. This figure is below the market expectation of 0.4%. It also rose 3.3% year-on-year, falling short of the market expectation of 3.5%.
Core producer prices, excluding energy and food, also rose 0% from the previous month, below the market forecast of 0.3%.
With the news that wholesale prices, a leading indicator of consumer prices, are cooling, Bitcoin (BTC) eased some inflation concerns and rose slightly. As of 10:32 PM on this day, BTC is trading at $96,848 on the Binance USDT market, up 6.12% from the previous day.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
