US: Annual PPI declines to 6% in January vs. 5.4% expected
- US annual PPI in January declined at a softer pace than expected.
- US Dollar Index stays below 104.00 after the data.
The Producer Price Index (PPI) for final demand in the US declined to 6% on a yearly basis in January from 6.5% in December, the data published by the US Bureau of Labor Statistics revealed on Thursday. This reading came in higher than the market expectation of 5.4%.
The annual Core PPI edged lower to 5.4% in the same period from 5.5%, compared to analysts' estimate of 4.9%. On a monthly basis, the Core PPI came in at 0.5%.
Market reaction
The US Dollar Index staged a modest rebound with the initial reaction to the PPI data and was last seen posting small daily gains at 103.87.
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.
