US: Annual PPI rises 2.3% in April vs. 2.4% expected

• Annual producer inflation in the US rose at a softer pace than expected in April.
• US Dollar Index stays in positive territory above 101.50.

The Producer Price Index (PPI) for final demand in the US rose 2.3% on a yearly basis in April, down from the 2.7% increase recorded in March, the data published by the US Bureau of Labor Statistics revealed on Thursday. This reading came in lower than the market expectation of 2.4%.

The annual Core PPI increased 3.2% in the same period, compared to the market expectation of 3.3%. On a monthly basis, the PPI and the Core PPI both came in at +0.2%.

Market reaction

The US Dollar Index largely ignored these figures and was last seen rising 0.3% the day at 101.72.