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The rise in producer prices in the United States was the highest in almost 2 years

August, 11 2020
watermark Economic news

According to the US Department of Labor, producer prices in the country (PPI) in July 2020 rose by 0.6% compared to the previous month. This was the highest growth rate since October 2018. Analysts on average had expected an increase of 0.3%.


Such jump in prices is mainly due to the rise in energy costs amid the relaxation of restrictions imposed in connection with the coronavirus pandemic.


Compared to July 2019, the PPI index dropped by 0.4%. Experts had forecast a 0.7% decline.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.