PPI Higher Than Expected, Japan Interbank System "Glitch"

The Producer Price Index rose by 2.2% year over year, much higher than the 1.6% increase the market was expected. Core PPI came in at 2.7% year over year vs 2.2% expected. Meanwhile in Japan, a "glitch" in a key system used for interbank payments is disrupting transactions for a second day. The Zengin interbank financial settlement network remains unavailable to the 11 Japanese banks it services.

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#PPI #inflation #Zengin