US: Annual PPI falls to 11.0% in April vs. 10.7% expected
- Annual headline PPI came in at 11.0% in April, a tad above expected, but Core PPI was a tad lower than expected.
- FX markets hardly reacted at all to the data.
The annual rate of US Producer Price Inflation (PPI) fell to 11.0% in April, above expectations for a fall to 10.7% from 11.2% in March, data released by the Bureau of Labour Statistics and Department of Labour showed on Thursday. MoM, headline producer price pressures came in at 0.5% as expected, falling back from a 1.6% MoM gain in March.
The annual pace of Core PPI came in at 8.8%, a tad lower than the expected drop to 8.9% from 9.6% in March. The MoM pace of Core PPI was also a little lower than expected at 0.4% versus expectations for a drop to 0.6% from 1.2% in March.
Market Reaction
FX markets have hardly reacted at all to the latest mixed US inflation data release.
Author
Joel Frank
Independent Analyst
Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset
