US producer prices rise more than forecast in August

  • by Ahmed Mamdouh
  • September 11, 2019, 16:44 AM
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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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