US annual PPI inflation softens to 2.3% in June vs. 2.5% expected
Source Fxstreet
- Producer inflation in the US continued to soften in June.
- US Dollar Index trades marginally lower on the day near 98.50.
The Producer Price Index (PPI) for final demand in the US rose 2.3% on a yearly basis in June, the data published by the US Bureau of Labor Statistics showed on Wednesday. This reading followed the 2.6% increase recorded in May and came in below the market expectation of 2.5%.
The annual core PPI rose 2.6% in the same period, down from 3% in May. On a monthly basis, the PPI and the core PPI were both unchanged.
Market reaction
The US Dollar Index edged slightly lower with the immediate reaction and was last seen losing 0.1% on the day at 98.55.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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