US annual PPI inflation drops to 2.2% in July vs. 2.3% expected
- Producer inflation in the US rose at a softer pace than expected in July.
- US Dollar Index stays near 103.00 following the PPI data.
The Producer Price Index (PPI) for final demand in the US rose 2.2% on a yearly basis in July, the data published by the US Bureau of Labor Statistics showed on Tuesday. This reading followed the 2.7% increase recorded in June and came in below the market expectation of 2.3%.
The annual core PPI rose 2.4% in the same period, falling short of analysts' estimate of 2.7%. On a monthly basis, the PPI increased 0.1%, while the core PPI remained unchanged.
Market reaction
The US Dollar Index showed no reaction to these data and was last seen moving sideways slightly above 103.00.
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.
