US producer prices rise 5.4% in August, lifting odds of September Fed hike
US producer price inflation accelerated to 5.4% year-on-year in August, driven by a 24.1% monthly jump in diesel fuel, while core PPI rose 4.6%. Jobless claims stayed low at 206,000, and markets now price a 71.8% chance of a 25 basis point Fed rate hike at the September FOMC meeting. Malaysian bank MBSB said the data strengthens the case for further tightening.