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U.S. September PPI rose 6.3% year-over-year (vs. 5.4% expected), and retail sales increased 0.8% month-over-month (vs. 0.3% expected), both exceeding forecasts.
Data released by the U.S. Department of Labor showed that the Producer Price Index (PPI) rose by 6.3% year-on-year in September, exceeding market expectations of 5.4%; on a month-on-month basis, it increased by 1.3%, higher than the anticipated 0.6%. Core PPI rose by 5.0% year-on-year and 0.7% month-on-month, both above expectations. Data from the U.S. Department of Commerce indicated that retail sales increased by 0.8% month-on-month in September, surpassing the expected 0.3%; excluding automobiles, sales grew by 0.9% month-on-month. These figures collectively reinforced market concerns that the Federal Reserve may need to further tighten monetary policy.
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