The U.S. released the consumer price index for the month of February, where PPI rose by 1.6%, double the prior estimate of 0.8% and well above median estimates of 0.7%, while compared with a year earlier, PPI rose by 5.6 percent, compared with the prior rise of 3.6% and above estimates of 4.7%.

Core PPI increased by 0.2% in February in line with median estimates and following the prior reported rise of 0.5%, while compared with a year earlier, core PPI rose by 1.8% also in line with expectations and following the prior rise of 1.6%.