He United States Producer Price Index (PPI) rose 1.3% year-on-year in October, well below the 2.2% in September and the 1.9% estimated by experts. This is the lowest level of growth in three months, according to the Bureau of Labor Statistics.
The monthly PPI fell 0.5% in October after growing 0.4% the previous month. This is its first drop in five months and the steepest since April 2020. The market consensus expected a rise of 0.1%.
He Production Price Index (IPP) excluding food and energy grew by 2.4% annually during the month of October after growing 2.7% in September, its lowest growth rate in 33 months, specifically since January 2021. The figure is below market expectations, since the rise was expected to be remained at 2.7%. The monthly indicator stood at 0% compared to +0.2% previously and +0.3% expected.
USD reaction
He Dollar Index (DXY) has rebounded after these data and retail sales data. First it fell to 103.99, the daily low, but immediately afterwards it rose to 104.38, the day’s high. At the time of writing, the USD is trading above 104.37, gaining 0.30% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
