- US producer inflation rose at a faster-than-expected pace in June.
- Dollar Index remains below 104.50 following PPI data.
The US final demand producer price index (PPI) rose 2.6% year-on-year in June, according to data released Friday by the US Bureau of Labor Statistics. This figure, after the 2.2% increase recorded in May, was above market expectations of 2.3%.
The annual core PPI rose 3% over the same period, beating the April increase and market expectations of 2.3% and 2.5%, respectively. On a monthly basis, the PPI rose 0.2%, while the core PPI rose 0.4%.
Market reaction
The Dollar Index rose slightly on the immediate reaction to the producer inflation data and was last seen losing 0.12% on the day at 104.37.
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.
