News

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

The Labor Department said that the U.S. PPI for August surged at a rate of 0.7%, the highest monthly jump since June 2022.
Published by
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.

The prices for final demand, which excludes food, energy, and trade prices, jumped 3% YoY in August, marking its highest advance since a surge of 3.4% YoY in April.

However, the core PPI ticked up 0.2%, in line with the market expectation. The investors were eagerly waiting for the PPI data, for more insights on the economic condition of the nation.

This ongoing week was crucial for the traders, with a flurry of key economic data releases scheduled, that might set the stage for the U.S. Federal Reserve’s future moves. The U.S. consumer price index (CPI) data of September 13, which showed an increase of 3.7%, has once again raised concern that inflation is still not under the Fed’s 2% target.

Meanwhile, another data from the U.S. Labor Department showed that the initial jobless claims increased by 3,000 to 220,000 from last week’s revised level. The employment data also plays an important role that might trigger market sentiments in any direction.

Advertisement

Crypto Market’s Momentum After The Key Data Release

The cryptocurrency market somewhat stayed in the green for the day, with most of the major cryptos like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP (XRP), among others staying in the green. Soon after the release of the PPI data, the global crypto market cap surged 0.87% in the last 24 hours to $1.05 trillion, while its volume for the past 24 hours plummeted 8.80% to $27.07 billion.

Meanwhile, after the data release, the Bitcoin price rose 0.73% to $26,413.86, and its market cap stayed at $514,803,283,349, up 0.94%. On the other hand, the Ethereum price noted gains of 1.53% and traded at $1,621.67. Its last 24-hour volume tumbled 4.79% to $5,151,261,100.

Solana price also stayed in the positive territory at $18.82, up 3.88%, while the XRP price ticked up 0.53% to $0.4831 during writing. The crypto market Fear and Greed Index stayed at 36, suggesting that the market is still undergoing a fear condition.

Advertisement
Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Analyst Slams S&P’s ‘B-’ Rating for Strategy Inc, Says Bitcoin Treasury Model Is “Misunderstood”

Crypto market analyst Adam Livingston has sharply criticized S&P Global Ratings after the agency assigned…

October 28, 2025
  • News

Metamask Airdrop Countdown Begins as Wallet Team Registers Token Claim Domain

In a fresh development, a newly registered claim domain has led to speculations that the…

October 27, 2025
  • News

$2.5T Citigroup Partners With Coinbase to Enable Stablecoin Payments

Citigroup, a top U.S. bank with $2.5 trillion asset under management has partnered with Coinbase.…

October 27, 2025
  • News

Who Will Be the Next Fed Chair? Scott Bessent Confirms Final Five Candidates

U.S. Treasury Secretary Scott Bessent has confirmed the final shortlist of contenders to replace Jerome…

October 27, 2025
  • News

Mt. Gox Delays Repayments to 2026 as Trump-Backed American Bitcoin Adds 1,414 BTC

Mt. Gox has once again pushed back its long-awaited Bitcoin (BTC) creditor repayments by a…

October 27, 2025
  • News

Crypto ETFs Attract $1B in Fresh Capital Ahead of Expected Fed Rate Cut This Week

Crypto ETFs record nearly $1 billion in weekly inflows. This marks one of the strongest…

October 27, 2025