US annual PPI inflation rises to 3% in November vs. 2.6% expected
- Producer inflation in the US rose at a stronger pace than expected in November.
- US Dollar Index holds above 106.50 following the PPI data.
The Producer Price Index (PPI) for final demand in the US rose 3% on a yearly basis in November, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading followed the 2.6% increase recorded in October and came in above the market expectation of 2.6%.
The annual core PPI rose 3.4% in the same period, surpassing analysts' estimate of 3.2%. On a monthly basis, the PPI and the core PPI rose 0.4% and 0.2%, respectively.
Market reaction
The US Dollar Index clings to modest daily gains above 106.50 following the November producer inflation data.
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.
