United States: producer price inflation higher than expected

(Boursier.com) — The producer price index in the United States for the month of January 2024 increased by 0.3% compared to the previous month and by 0.9% year-on-year. This is an additional unpleasant surprise regarding prices in the USA, since the FactSet consensus was +0.1% increase month-on-month and +0.7% year-on-year. Excluding food and energy, the January producer price index increased by 0.5% against 0.1% consensus (+2% over one year against 1.7% consensus).

Note that housing starts and building permits in the United States for the month of January have also been announced. Housing starts stood at 1.331 million (-15%), compared to 1.47 million consensus and 1.562 million for the revised reading of the previous month. Permits are also lower than expected, at 1.47 million, compared to 1.51 million consensus and 1.493 million a month earlier.