US annual PPI inflation softens to 2.7% in March vs. 3.3% expected
- Producer inflation in the US softened unexpectedly in March.
- US Dollar Index stays deep in negative territory below 100.00.
The Producer Price Index (PPI) for final demand in the US rose 2.7% on a yearly basis in March, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed the 3.2% increase recorded in February and came in below the market expectation of 3.3%.
The annual core PPI rose 3.3% in the same period, down from 3.5% in February. On a monthly basis, the PPI and the core PPI declined 0.4% and 0.1%, respectively.
Market reaction
The US Dollar Index stays under heavy bearish pressure in the American session on Friday and was last seen losing 1.2% on the day at 99.65.
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.
