{"id":42005,"date":"2023-02-16T17:14:00","date_gmt":"2023-02-16T17:14:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=42005"},"modified":"2023-02-17T10:51:41","modified_gmt":"2023-02-17T10:51:41","slug":"market-wrap-ppi-inflation-on-the-rise","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-wrap-ppi-inflation-on-the-rise\/","title":{"rendered":"Market Wrap – PPI Inflation On The Rise"},"content":{"rendered":"\t\t
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The US dollar <\/a>moved higher and stocks moved lower this afternoon after US PPI came in higher than expected, further indicated that the FED will need to keep the pedal on rate hikes.<\/p>

Producer prices for final demand in the US increased 0.7% month-over-month in January of 2023, the most in seven months and higher than market forecasts of 0.4%.<\/p>

Goods prices jumped 1.2%, also the largest increase since rising 2.1% in June 2022, led by a 6.2% surge in gasoline<\/a> cost. The indexes for residential natural gas<\/a>, diesel<\/a> fuel, jet fuel, soft drinks, and motor vehicles also moved higher.<\/p>

Conversely, prices for fresh and dry vegetables decreased 33.5%. The indexes for residual fuels and for basic organic chemicals also declined. Meanwhile, services cost edged 0.4% higher, mainly hospital outpatient care (1.4%).<\/p>

The indexes for automobiles and automobile parts retailing; health, beauty, and optical goods retailing; portfolio management; chemicals and allied products wholesaling; and airline passenger services also moved higher. In contrast, margins for fuels and lubricants retailing fell 17.5%.<\/p>

The number of Americans filing for unemployment benefits declined to 194,000 in the week ending February 11th, down from the previous week’s revised level of 195 thousand and below market expectations of 200,000.<\/p>

The latest value remained close to a nine-month low of 183,000 hit at the end of January, suggesting US labour market was still tight due in part to reduced labor force participation.<\/p>

This could force employers to raise wages to attract and keep staff, adding to further inflationary pressure in the world’s largest economy.<\/p>

The 4-week moving average, which removes week-to-week volatility, increased to 189,500 from last week’s 10-month low of 189,000. On a non-seasonally adjusted basis, the number of claims was down 9,000 to 225,000.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The US dollar moved higher and stocks moved lower this afternoon after US PPI came in higher than expected, further indicated that the FED will need to keep the pedal on rate hikes. Producer prices for final demand in the US increased 0.7% month-over-month in January of 2023, the most in seven months and higher […]<\/p>\n","protected":false},"author":4,"featured_media":42007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[42,327,67,167,736],"yoast_head":"\nMarket Wrap - PPI Inflation On The Rise - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/market-wrap-ppi-inflation-on-the-rise\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Wrap - PPI Inflation On The Rise Market Wrap - PPI Inflation On The Rise\" \/>\n<meta property=\"og:description\" content=\"The US dollar moved higher and stocks moved lower this afternoon after US PPI came in higher than expected, further indicated that the FED will need to keep the pedal on rate hikes.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-wrap-ppi-inflation-on-the-rise\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-16T17:14:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-17T10:51:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/02\/GettyImages-1451822879.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"740\" \/>\n\t<meta property=\"og:image:height\" content=\"433\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Market Wrap - 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