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I confirm my intention to proceed and enter this websiteIn February 2024, the United States observed a month-over-month escalation in the Final Demand Producer Price Index (PPI) by 0.6%, indicating the largest growth since the previous August, exceeding the 0.3% advance anticipated by the market. A significant rise of 1.2% was seen in the prices of goods, driven largely by a boost of 4.4% in energy costs and a 1.0% increase in food prices, marking a half-year high.
Concurrently, service costs marked a 0.3% increment, down from a 0.5% rise in the preceding month, featuring a 0.9% elevation in transportation and warehousing service prices, alongside a 0.3% dip for trade services. Moreover, a 0.3% rise was noted in the core rate, which excludes unstable items such as food and energy, albeit slower than the 0.5% hike recorded in January, slightly surpassing the expected 0.2%. Yearly, a swift acceleration to 1.6% from 0.9% the preceding month was seen in producer price inflation, surpassing the predicted 1.1%.
The dollar index experienced a rise, surpassing 103 on Thursday, reversing the downturn from the previous session following recent inflation data indicating high constant pressure, which damped positive expectations for possible Federal Reserve rate cuts this year.
Moreover, major U.S. stock indices concluded the session lower, with both the S&P 500 and Nasdaq losing 0.3%, and the Dow Jones falling by 136 points, thereby ending a three-day surge. Real estate, utilities, and healthcare sectors trailed, emerging as the weakest entities. Contrarily, the energy sector deviated from this pattern and concluded in a favorable position, bolstered by a four-month record in crude oil prices.
(PPI MoM%, U.S. Bureau of Labor Statistics)
(PPI YoY%,U.S. Bureau of Labor Statistics)
(Dollar Index Weekly Chart)
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