Annual US PPI Rises To 2.6% Higher Than Market Expectations

Author: Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Jul 12, 2024 19:12

As per the latest release by The U.S. Bureau of Labor Statistics on Friday, the annual Producer Price Index (PPI) inflation in the United States rises to 2.6%, higher than market expectations of 2.3, up from 2.2% last month. Core PPI YoY also came 0.5% higher at 3.0%, much higher than 2.3% in the previous month. In month-over-month change, Producer Price Index have also increased from -0.2% to 0.2%, a rise of 0.4% in a month. Meanwhile, Core PPI rises from 0.3% to 0.4% in a month.