Editor's PiCK
U.S. June Producer Price Index remains flat MoM...falls short of expectations
Summary
- The U.S. Producer Price Index (PPI) for June was flat at 0.0% month-on-month, falling short of the market expectation of a 0.2% increase.
- Bitcoin (BTC) experienced a slight drop at the time of the index announcement, but rebounded and is currently trading at $119,013, up 1.41% from 24 hours earlier.
- Producer prices are considered a leading indicator for consumer prices, as they are reflected in final prices after a certain period.
The U.S. Producer Price Index (PPI) for June came in below market expectations.
According to the U.S. Department of Labor on the 16th (local time), the month-on-month growth rate of the U.S. PPI for June was recorded at 0.0%, remaining flat. This figure fell short of the market expectation of a 0.2% increase. Year-on-year, it rose by 2.3%, also missing the expected 2.5% increase.
Bitcoin (BTC) slipped slightly to $118,580 at the time of the announcement, before rebounding. As of 21:37, based on Binance's USDT market, Bitcoin is trading at $119,013, up 1.41% from 24 hours ago.
Meanwhile, producer prices are considered a leading indicator for consumer prices, as they are reflected in final consumer goods prices after a certain period.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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