- US producer inflation rose at a slower-than-expected pace in July.
- Dollar Index holds near 103.00 following PPI data.
The U.S. Producer Price Index (PPI) for final demand rose 2.2% year-over-year in July, according to data released Tuesday by the U.S. Bureau of Labor Statistics. The reading followed a 2.7% increase in June and was below the market expectation of 2.3%.
The annual core PPI rose 2.4% over the same period, below analysts’ estimate of 2.7%. On a monthly basis, the PPI rose 0.1%, while the core PPI remained unchanged.
Market reaction
The Dollar Index showed no reaction to this data and was last seen moving sideways slightly above 103.00.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
