Forex News

US producer prices rise more than forecast, dollar strengthens

US PPI inflation

Producer prices in the United States rose more than forecasts in March, data released on Thursday showed, helping the dollar to widen its gains.  

The producer price index (PPI) saw a 0.6 percent increase last month, following a 0.3 percent soar in February. The year-on-year reading climbed to 2.2 percent from a previous of 1.9 percent.  

Core PPI showed a 0.3 percent surge, compared to both prior and excepted readings of 0.1 percent and 0.2 percent.

Another report from the U.S. showed a drop in initial jobless claims to 196,000 last week from a revised of 2014,000 a week before.

The dollar index strengthened to 96.74 from the session’s open at 96.51, set for the frist daily gain in four, as of 12:40 GMT.

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