US annual PPI inflation drops to 2.2% in July vs. 2.3% expected
Source Fxstreet
- Producer inflation in the US rose at a softer pace than expected in July.
- US Dollar Index stays near 103.00 following the PPI data.
The Producer Price Index (PPI) for final demand in the US rose 2.2% on a yearly basis in July, the data published by the US Bureau of Labor Statistics showed on Tuesday. This reading followed the 2.7% increase recorded in June and came in below the market expectation of 2.3%.
The annual core PPI rose 2.4% in the same period, falling short of analysts' estimate of 2.7%. On a monthly basis, the PPI increased 0.1%, while the core PPI remained unchanged.
Market reaction
The US Dollar Index showed no reaction to these data and was last seen moving sideways slightly above 103.00.
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