US: Annual core PPI drops to 0.6% in April vs. 0.9% expected

• Core PPI in US fell more than anticipated in April. 
• US Dollar Index stays in negative territory near 99.70 after data.

The Producer Price Index (PPI) in the US declined by 1.3% on a monthly basis in April and dragged the annual rate to -1.2% from 0.7% in March, the US Bureau of Labor Statistics reported on Wednesday.

The annual core PPI, which excludes volatile food and energy prices, fell to 0.6% from 1.4% and came in lower than the market expectation of 0.9%.

Market reaction

The US Dollar Index largely ignored this data and was last seen losing 0.3% on the day at 99.70.