- US annual PPI inflation declines to 0.9% in January vs. 0.6% expected
Market news
16 February 2024
US annual PPI inflation declines to 0.9% in January vs. 0.6% expected
- Producer inflation in the US declined at a softer pace than expected in January.
- US Dollar Index climbed above 104.50 with the immediate reaction.
The Producer Price Index (PPI) for final demand in the US rose 0.9% on a yearly basis in January, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed the 1% increase recorded in December but came in above the market expectation of 0.6%.
The annual Core PPI rose 2% in the same period, compared to December's increase of 1.7% (revised from 1.8%). On a monthly basis, the Core PPI was up 0.5% following the 0.1% decline recorded in the previous month.
Market reaction
The US Dollar Index gathered bullish momentum with the immediate reaction to the hot producer inflation data and was last seen rising 0.3% on the day at 104.60.
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page