US: Annual PPI comes in at 1.7% in June vs. 1.6% expected
|- Producer Price Index rises 0.1% on a monthly basis in June.
- Annual core PPI matches May's reading of 2.3%.
- US Dollar Index doesn't react to the PPI figures.
According to the monthly report published by the U.S. Bureau of Labor Statistics, the Producer Price Index in June rose 1.7% on a yearly basis following May's 1.8% reading and came in slightly above the market expectation of 1.6%. On a monthly basis, the PPI increase 0.1% to match the previous month's reading.
On the other hand, the core PPI, which excludes the volatile food and energy prices, was 0.3% and 2.3% on a monthly and yearly basis, respectively.
The US Dollar Index largely ignored these reading and was posting small losses at 97.02.
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