Fiper | Producer Price Index

The producer price index determines the rate of inflation (i.e., the rate of change in prices) experienced by manufacturers when they purchase goods and services. When manufacturers pay more money for goods and services, then the higher costs are more likely to be passed on to the consumer, and therefore the producer price index is believed to It is a leading indicator of consumer inflation. The producer price index is taken into account to a large extent, and when it comes with peak readings, its impact on the market is equal to that of the consumer price index.
The producer price index for final demand in the US rose 0.2% month-on-month in October 2022, the same as the downwardly revised 0.2% increase in September and less than the market expectation of 0.4%. The cost of goods rose 0.6%, the biggest advance since a 2.2% increase in June, mainly driven by a 5.7% jump in the cost of gasoline. Prices of diesel fuel, fresh and dry vegetables, residential electric power, chicken eggs, and oil and gas field machinery also rose. In contrast, the passenger car index decreased by 1.5%. Meanwhile, the cost of services fell 0.1%, the first decline since November of 2020. Selling prices for fuels and lubricants fell 7.7%, and prices also fell for portfolio management, long-distance vehicle transportation, auto retail, and professional and commercial equipment wholesale. . In contrast, the cost of hospital inpatient care increased by 0.8%. Compared to the same month in 2021, producer prices increased by 8%, the smallest increase since July last year.

Outlook for today's statement and how it will affect the currency

The estimate for today's statement is 0.2%.
In the event that the data is issued at a rate higher than expectations, it affects the currency positively, and vice versa