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.
Producer prices for final demand in the US rose 0.7% month-over-month in January of 2023, the highest in seven months and above market expectations of 0.4%. Commodity prices jumped 1.2%, also the largest increase since a 2.1% rise in June 2022, driven by a 6.2% increase in the cost of gasoline. The indices of natural gas, diesel fuel, jet fuel, soft drinks, and cars also rose. Conversely, the prices of fresh and dry vegetables decreased by 33.5%. Indicators of remaining fuel and basic organic chemicals also decreased. Meanwhile, the cost of services rose 0.4%, particularly hospital outpatient care (1.4%). retail auto and parts catalogs; retailing of health, beauty and optical goods; portfolio management; wholesale trade of chemicals and allied products; Passenger services in airlines also rose. In contrast, margins for selling fuels and lubricants decreased by 17.5%.

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

The estimate for today's statement is 0.3%.
In the event that the data is issued at a rate higher than expectations, it affects the currency positively, and vice versa

The timing of the statement

This statement will be issued at exactly three thirty in the evening, Mecca Al-Mukarramah time