US: Annual Core PPI declines to 1.1% in October vs. 1.2% expected

• Annual Core PPI in the US softened modestly in October.
• US Dollar Index stays in the negative territory below 93.00.

The Producer Price Index (PPI) in the US for final demand edged lower to 0.3% on a monthly basis in October from 0.4% in September, the data published by the US Bureau of Labor Statistics showed on Friday. On a yearly basis, the PPI ticked up to 0.5%.

Further details of the report revealed that the core PPI, which strips volatile food and energy prices, declined to 1.1% on a yearly basis and fell short of the market expectation of 1.2%. 

Market reaction

Investors largely ignored these figures and the US Dollar Index was last seen losing 0.06% on the day at 92.90.