US: Annual Core PPI rises to 1.2% in September vs. 0.9% expected
- Annual Core PPI in the US rose more than expected in September.
- US Dollar Index posts modest daily losses near 93.30 after the data.
The Producer Price Index (PPI) in the US for final demand ticked higher to 0.4% on a monthly basis in September from 0.3% in August, the data published by the US Bureau of Labor Statistics showed on Wednesday. On a yearly basis, the PPI rose to 0.4% from -0.2% and came in higher than the market expectation of 0.2%.
Further details of the publication revealed that the Core PPI, which excludes volatile food and energy prices, climbed from 0.6% to 1.2% on a yearly basis and surpassed analysts' estimate of 0.9%.
Market reaction
The US Dollar Index edged lower after this data and was last seen losing 0.25% on a daily basis at 93.31.
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.
