Investing.com – Producer price inflation in the U.S. rose more-than-expected in August, official data showed on Thursday.
In a report, the Bureau of Labor Statistics said that PPI rose by a seasonally adjusted 0.4% in August after rising 0.2% in July.
Analysts had expected PPI to increase by 0.3% in August.
Core PPI, which excludes food and energy costs rose in line with expectations in August, climbing 0.1% after rising 0.3% in July.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD shedding 0.32% to hit 1.3050.
Meanwhile, U.S. futures indices were lower. The Dow Jones Industrial Average futures indicated a slide 0.38%, S&P 500 futures pointed to a loss of 0.48% and Nasdaq 100 futures indicated a drop of 0.28%.
In a report, the Bureau of Labor Statistics said that PPI rose by a seasonally adjusted 0.4% in August after rising 0.2% in July.
Analysts had expected PPI to increase by 0.3% in August.
Core PPI, which excludes food and energy costs rose in line with expectations in August, climbing 0.1% after rising 0.3% in July.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD shedding 0.32% to hit 1.3050.
Meanwhile, U.S. futures indices were lower. The Dow Jones Industrial Average futures indicated a slide 0.38%, S&P 500 futures pointed to a loss of 0.48% and Nasdaq 100 futures indicated a drop of 0.28%.