American producer prices rose more than expected in January
The American producer price index rose more than expected in January, according to the statistics institute of the Washington Department of Labor, the U.S. Based on Thursday’s report from the Bureau of Labor Statistics.
In January, the producer price index in the United States rose by a seasonally adjusted 0.7 percent, at the highest rate in seven months compared to the previous month, following a 0.2 percent decline in December. For January, the markets expected a monthly growth of 0.4 percent.
In January, the producer price index rose by 6.0 percent on an annual basis, the smallest amount since March 2021. In December, the price index increased by 6.5 percent in the 12-month period. Markets expected annual growth of 5.4 percent by January.
Commodity prices rose 1.2 percent, the biggest increase since last June’s 2.2 percent increase, mainly due to a 6.2 percent increase in gasoline costs. Indices for residential natural gas, diesel, jet fuel, soft drinks and motor vehicles also rose. In contrast, the prices of fresh and dried vegetables decreased by 33.5 percent. Meanwhile, the price of services rose by 0.4 percent, mainly hospital outpatient care, by 1.4 percent.
Related news
GKI analysis: Why do Hungarian households live more poorly than anyone else in the EU?
Imagine that the residents of every EU country shop in…
Read more >K&H Analyst Commentary: The forint is on the rise
The forint, the Polish zloty and the Czech koruna are…
Read more >Fitch: Global economy recovering as tariff war eases – China and US may drive growth
Fitch Ratings expects stronger-than-expected economic performance in 2025: according to…
Read more >Related news
What makes us add the product to the cart – research
The latest joint research by PwC and Publicis Groupe Hungary…
Read more >Energy drinks are now legal: what every shopkeeper should know
New regulations on the sale of energy drinks came into…
Read more >In several countries around the world, there will be Hungarian inscriptions on McDonald’s cola glasses
Starting in July, McDonald’s restaurants in several countries around the…
Read more >