In the US, the Producer Price Index rose 0.7 percent month on month in August, surpassing market expectations. Producer prices rose 8.3 percent year-on-year in August, the highest increase since November 2010.
The US Department of Labor has released the Producer Price Index (PPI) data for August. Accordingly, PPI increased by 0.7 percent in August compared to the previous month. In this period, the PPI, which increased above the market expectations, was expected to increase by 0.6 percent. The PPI rose 1 percent in July. Producer prices rose 8.3 percent year-on-year in August, rising above market expectations.
The index, which showed the highest increase since November 2010, was expected to increase by 8.2 percent annually in August. In July, the index increased by 7.8 percent year on year.
Core PPI, which does not include variable food, energy and trade prices, rose 0.3 percent monthly and 6.3 percent annually in August. The market expectation for the core PPI was 0.5 percent monthly and 6.6 percent annual increase.
By measuring the prices of inputs used in production, the PPI gives clues about final product prices and headline inflation. The US Federal Reserve (Fed) tracks all inflation indicators, including the PPI.
Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.
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