- Annual PPI in US rose sharply in April.
- US Dollar Index posts small daily losses after the data.
The Producer Price Index (PPI) in the US for final demand rose to 6.2% on a yearly basis in April from 4.2% in March, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading came in higher than the market expectation of 5.9%.
Further details of the publication revealed that the annual Core PPI increased to 4.1% from 3.1%, compared to analysts' estimate of 3.7%.
Market reaction
The US Dollar Index edged slightly lower with the initial market reaction and was last seen losing 0.08% on the day at 90.70.
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