US annual PPI jumps to 3.3% in July vs. 2.5% expected

Producer inflation in the US rose at a much stronger pace than expected in July.
The US Dollar Index stays in positive territory above 98.00.

Eren Sengezer FXStreet

The Producer Price Index (PPI) for final demand in the United States (US) rose 3.3% on a yearly basis in July, according to the report published by the US Bureau of Labor Statistics on Thursday. This reading followed the 2.4% increase recorded in June and surpassed the market expectation of 2.5% by a wide margin.

The annual core PPI rose 3.7% in the same period, up from 2.6% in June. On a monthly basis, the PPI and the core PPI both increased by 0.9%.

Market reaction

The US Dollar Index gained traction with the immediate reaction to US producer inflation data and was last seen rising 0.25% on the day at 98.04.

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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