US: Annual PPI declines to 7.4% in November as expected

Annual PPI in the US declined to 7.4% in November as expected.
US Dollar Index gained traction and climbed to the 105.00 area.

Eren Sengezer FXStreet

The Producer Price Index (PPI) for final demand in the US declined to 7.4% on a yearly basis in November from 8.1% in October, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in line with the market expectation.

The annual Core PPI edged lower to 6.2% in the same period from 6.7%, compared to analysts' estimate of 6%. On a monthly basis, the Core PPI came in at 0.4%.

Market reaction

The US Dollar gathered strength against its rivals with the initial reaction to the data. As of writing, the US Dollar Index was up 0.2% on the day at 105.02.

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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