US headline Producer Prices rose 3% in November
The US Producer Price Index (PPI) rose 3% in November from a year earlier, according to the latest figures from the Bureau of Labour Statistics (BLS). The print came in above estimates and October’s 2.8% gain.
Stripping out food and energy, core Producer Prices were also up 3% over the year, above the 2.7% forecast and up from the previous 2.9% increase.
On a monthly basis, the headline PPI edged up 0.2%, and the core PPI came in flat.
Market reaction
The US Dollar (USD) trades on the defensive on Wednesday, challenging the 99.00 support level as investors assess recent data releases and increasing speculation of extra rate cuts by the Fed in the next few months.
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