- US: Annual PPI rises 0.8% in July vs. 0.7% expected
Market news
11 August 2023
US: Annual PPI rises 0.8% in July vs. 0.7% expected
- Producer inflation in the US increased 0.8% on a yearly basis in July.
- US Dollar Index hold steady slightly above 102.50 after PPI data.
The Producer Price Index (PPI) for final demand in the US rose 0.8% on a yearly basis in July, up sharply from 0.1% increase recorded in June, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in slightly higher than the market expectation of 0.7%.
The annual Core PPI increased 2.4% in the same period, matching June's reading. On a monthly basis, the PPI and the Core PPI both rose 0.3%.
Market reaction
The US Dollar Index edged slightly higher after this data and was last seen posting small gains at 102.65.
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