Producer Price Index 14/6/2022

The producer price index determines the rate of inflation (i.e. the rate of change in prices) experienced by industrialists when they purchase goods and services. It is a leading indicator of consumer inflation, the producer price index is taken into account to a large extent, and when it comes to readings at the peak, its effect on the market is equal to the effect of the consumer price index

US producer prices rose 0.5% monthly in April of 2022, less than the upwardly revised 1.6% rise in March and mostly in line with market expectations. The cost of wholesale goods rose 1.3% last month, reflecting an increase in cars, chicken, eggs, electricity and natural gas. Meanwhile, the final demand index for construction increased by 4%, while prices for final demand services were unchanged. On an annual basis, wholesale prices rose 11%, exceeding market expectations for an increase of 10.7% and compared to 11.5% in March. However, producer inflation is running at its highest rate in 40 years and the report showed little indication that price pressures will subside significantly in the near future.

The estimate for today's statement is 0.8%.

In the event that the data is released at a rate higher than expectations, it will affect the currency positively and vice versa