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US producer prices rise more than forecast in August

US producer prices rise more than forecast

Producer prices in the United States rose more than forecasts in August, data released on Wednesday showed, helping the dollar to remain firm.  

The producer price index (PPI) saw a 0.1 percent increase last month, following a 0.2 percent soar in July. The year-on-year reading climbed to 1.8 percent from a previous of 1.7 percent.  

Core PPI showed a 0.3 percent surge, compared to both prior and excepted readings of -0.1 percent and 0.1 percent. The annual reading accelerated to 2.3 percent from a prior of 2.1 percent.

The dollar index remained firm at 96.61 from the session’s open at 98.30, set for its second straight daily advance, as of 12:42 GMT.

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