US annual PPI inflation rises to 2.6% in June vs. 2.3% expected
Source Fxstreet
- Producer inflation in the US rose at a stronger pace than expected in June.
- US Dollar Index stays below 104.50 following the PPI data.
The Producer Price Index (PPI) for final demand in the US rose 2.6% on a yearly basis in June, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed the 2.2% increase recorded in May and came in above the market expectation of 2.3%.
The annual core PPI rose 3% in the same period, coming in above April's increase and the market expectation of 2.3% and 2.5%, respectively. On a monthly basis, the PPI increased 0.2%, while the core PPI rose 0.4%.
Market reaction
The US Dollar Index edged slightly higher with the immediate reaction to the producer inflation data and was last seen losing 0.12% on the day at 104.37.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin (BTC) trades above $108,000 on Tuesday following a steady decline in its volatility in the first half of the year, marking the third-lowest H1 volatility since 2012.
AUD/NZD holds ground after the Reserve Bank of New Zealand (RBNZ) decided to stand pat on the policy rate after six consecutive cuts, trading around 1.0890 during the Asian hours on Wednesday.
ETH is now consolidating gains and might aim for a fresh move above $2,620.
Jeff Bezos has sold nearly three million shares of Amazon in the first two days of July, offloading a total of $665.8 million.
Gold price (XAU/USD) trades with a negative bias below the $3,300 mark during the Asian session on Wednesday and drops to a one-and-a-half-week low in the last week.
