US PPI Comes In Hotter Than Expected, But Crypto Market Remains Steady

The U.S. producer price index (PPI) accelerated at a rate of 0.7% in August, as compared to the consensus expectation of 0.4%, the U.S. Bureau of Labor Statistics reported today. The latest surge marks the highest increase in final demand prices since a jump of 0.9% in June last year. Meanwhile, on a YoY basis, the U.S. PPI rose 1.6% last month on an unadjusted basis.