US annual PPI inflation softens to 2.3% in June vs. 2.5% expected

Producer inflation in the US continued to soften in June.
US Dollar Index trades marginally lower on the day near 98.50.

Eren Sengezer FXStreet

The Producer Price Index (PPI) for final demand in the US rose 2.3% on a yearly basis in June, the data published by the US Bureau of Labor Statistics showed on Wednesday. This reading followed the 2.6% increase recorded in May and came in below the market expectation of 2.5%.

The annual core PPI rose 2.6% in the same period, down from 3% in May. On a monthly basis, the PPI and the core PPI were both unchanged.

Market reaction

The US Dollar Index edged slightly lower with the immediate reaction and was last seen losing 0.1% on the day at 98.55.

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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