Investing.com – Producer price inflation in the U.S. was flat in August, official data showed on Wednesday.
In a report, the Bureau of Labor Statistics said that PPI was flat in August, broadly in line with expectations, following a 0.2% gain in July.
Year-over-year, the producer price index rose at an annualized rate of 6.5% in August, after advancing at a rate of 7.2% in July, broadly in line with expectations.
Core PPI, which excludes food and energy costs, rose less-than-expected in August, increasing by 0.1% after rising by 0.4% in the preceding month. Analysts had expected core PPI to rise by 0.2%.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD gaining 0.27% to trade at 1.3716.
Meanwhile, stock index futures held on to gains following the data. The Dow Jones Industrial Average futures pointed to a gain of 0.35%, S&P 500 futures rose 0.5%, while the Nasdaq 100 futures indicated an increase of 0.6%.
In a report, the Bureau of Labor Statistics said that PPI was flat in August, broadly in line with expectations, following a 0.2% gain in July.
Year-over-year, the producer price index rose at an annualized rate of 6.5% in August, after advancing at a rate of 7.2% in July, broadly in line with expectations.
Core PPI, which excludes food and energy costs, rose less-than-expected in August, increasing by 0.1% after rising by 0.4% in the preceding month. Analysts had expected core PPI to rise by 0.2%.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD gaining 0.27% to trade at 1.3716.
Meanwhile, stock index futures held on to gains following the data. The Dow Jones Industrial Average futures pointed to a gain of 0.35%, S&P 500 futures rose 0.5%, while the Nasdaq 100 futures indicated an increase of 0.6%.