US PPI Rises to 3.3%, Above Expectations

The latest US Producer Price Index came in at 3.3%, exceeding forecasts and signaling ongoing inflationary pressures. Markets reacted with a sharp decline across equities and cryptocurrencies, reflecting concerns the Federal Reserve may keep interest rates elevated for longer. PPI measures the average price change received by producers for goods and services; a higher reading typically points to increased inflation risk. The volatility may also present short-term buying opportunities in gold.