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12 Jan 2024
US annual PPI inflation rises to 1% in December vs. 1.3% expected
- Producer inflation in the US edged slightly higher in December.
- US Dollar Index retreated below 102.50 with the immediate reaction.
The Producer Price Index (PPI) for final demand in the US rose 1% on a yearly basis in December, up from the 0.8% increase (revised from 0.9%) recorded in November, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in lower than the market expectation of 1.3%.
The annual Core PPI increased 1.8% in the same period, below the November reading and analysts' estimate of 2% and 1.9%, respectively. On a monthly basis, the Core PPI was unchanged for the third consecutive month.
Market reaction
The US Dollar Index came under modest bearish pressure with the immediate reaction and was last seen trading flat on the day near 102.30.