Crypto Market Dips as U.S. PPI Data Disappoints

The U.S. Producer Price Index (PPI) in July rose 0.9% month-on-month well above the 0.2% expectation and 3.3% year-on-year from the 2.5% forecast. This was a high beat from June’s zero monthly rise and 2.4% year-on-year increase, which signals continued wholesale-level inflation pressures.

Core PPI, which excludes food and energy, also rose 0.9% in July, well above the 0.2% forecast.