US: Annual core PPI drops to 0.6% in April vs. 0.9% expected

Core PPI in US fell more than anticipated in April.
US Dollar Index stays in negative territory near 99.70 after data.

Eren Sengezer FXStreet

The Producer Price Index (PPI) in the US declined by 1.3% on a monthly basis in April and dragged the annual rate to -1.2% from 0.7% in March, the US Bureau of Labor Statistics reported on Wednesday.

The annual core PPI, which excludes volatile food and energy prices, fell to 0.6% from 1.4% and came in lower than the market expectation of 0.9%.

Market reaction

The US Dollar Index largely ignored this data and was last seen losing 0.3% on the day at 99.70.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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