- The PPI rises 0.5% in April, in line with expectations, annual rate goes from 11.5% to 11%.
- Core PPI slows more than expected.
- Dollar pulls back modestly after data, remains strong.
The Producer Price Index (PPI) in April registered a rise of 0.5% in line with expectations, after the jump of 1.6% in March. The annual rate fell to 11%, from 11.5% (revised from 11.2%) in March, a result higher than the 10.7% market consensus. March’s annual reading was the highest since the early 1980s.
The underlying PPI delivered positive news for officials by showing a further slowdown. The index rose 0.4% in April, less than the 0.6% market consensus and less than 1.2% in March. The annual rate decreased from 9.6% (revised from 9.2%) to 8.8%, lower than the 8.9% expected.
At the same time, the report on requests for unemployment benefits was published, which showed mixed figures. The dollar lost ground after the data and cut gains, while against the yen extended the decline.
Source: Fx Street
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