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Investing.com – A piece of US inflation data – producer prices – is now out that should provide further signals about the Fed’s next steps on monetary policy. This data comes hours before the release of consumer price index data, along with the minutes of the US Federal Reserve meeting for the previous meeting.
The data just released supports the Federal Reserve’s continuation of its tight monetary policy, meaning that it came in favor of… This is after the producer price index accelerated and rose more than expected and more than the percentages recorded last month.
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Data just released
It rose by 0.5% in September, while experts expected an increase of 0.3%, and the reading recorded an increase of 0.7%.
The index also rose, as the index recorded an increase of 2.2% compared to September, while expectations indicated an increase of 1.6%, while the August reading was revised upward to 2%.
While it recorded a monthly rate of 0.3%, while expectations were at 0.2%. It recorded an increase of 2.7%, and expectations were at 2.3%.
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Gold and dollar now
It rises 0.5% to $1,885 an ounce.
Meanwhile, spot gold contracts rose by 0.6% to $1,871 per ounce.
On the other hand, the dollar index rose by 0.04% to 105.594 points.
2023-10-11 12:33:00
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