US January Producer Price Index (PPI) Rises 0.4% Month-over-Month, Exceeding Expectations

The US Producer Price Index (PPI) for January exceeded market expectations. Producer prices are considered a leading indicator of consumer prices as they typically reflect in final consumer goods prices after a certain period.

According to the US Department of Labor on the 13th (local time), January PPI increased by 0.4% from the previous month. This surpasses the market expectation of 0.3%. Compared to the same period last year, it rose by 3.5%, also exceeding market expectations (3.2%).

Core producer prices, excluding energy and food, rose 0.3% from the previous month, matching market forecasts (0.3%).

Meanwhile, the number of initial jobless claims announced at the same time came in slightly below expectations. Last week's initial jobless claims in the US were 213,000, below the expected 217,000.