PiCK
US January Producer Price Index (PPI) Rises 0.4% Month-over-Month, Exceeding Expectations
Summary
- US January PPI rose 0.4% month-over-month, exceeding expectations.
- The rise in producer prices is considered a leading indicator of consumer prices, suggesting future price increases.
- The initial jobless claims came in below expectations, indicating strength in the labor market.
The US Producer Price Index (PPI) for January exceeded market expectations. Producer prices are considered a leading indicator of consumer prices as they typically reflect in final consumer goods prices after a certain period.
According to the US Department of Labor on the 13th (local time), January PPI increased by 0.4% from the previous month. This surpasses the market expectation of 0.3%. Compared to the same period last year, it rose by 3.5%, also exceeding market expectations (3.2%).
Core producer prices, excluding energy and food, rose 0.3% from the previous month, matching market forecasts (0.3%).
Meanwhile, the number of initial jobless claims announced at the same time came in slightly below expectations. Last week's initial jobless claims in the US were 213,000, below the expected 217,000.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.