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.

Eren Sengezer FXStreet

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.

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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