US: Annual core PPI rose 2.3% in August vs. 2.2% expected

Annual core PPI rose more than expected in August.
US Dollar Index stays near its daily highs above 98.50.

Eren Sengezer FXStreet

According to the data published by the US Bureau of Labor Statistics, the core Producer Price Index, which strips food and energy prices, rose 2.3% in August following July's 2.1% reading and came in above the market expectation of 2.2%. On a monthly basis, the core PPI increased 0.3%.

The PPI, on the other hand, rose 0.1% and 1.8% on a monthly and yearly basis, respectively.

The market reaction to the data was relatively muted and the US Dollar Index stays in the upper half of its daily range, adding 0.3% at 98.62.

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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