Commodities
Gold Prices Steady as US PPI Data Posts Flat Reading
The latest US Producer Price Index (PPI) data showed a flat reading of 0.0% in July, following June's unrevised -0.3% drop.
This was lower than economists' expectations for a 0.2% increase.
However, the core PPI, which strips out volatile food and energy costs, rose 0.2% in July, below economists' 0.3% consensus forecast.
In the last 12 months, headline wholesale inflation increased 4.7%, below the consensus for 4.9% and June's unrevised 5.5% reading.