US: Annual PPI rises 0.8% in July vs. 0.7% expected

• Producer inflation in the US increased 0.8% on a yearly basis in July.
• US Dollar Index hold steady slightly above 102.50 after PPI data.

The Producer Price Index (PPI) for final demand in the US rose 0.8% on a yearly basis in July, up sharply from 0.1% increase recorded in June, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in slightly higher than the market expectation of 0.7%.  

The annual Core PPI increased 2.4% in the same period, matching June's reading. On a monthly basis, the PPI and the Core PPI both rose 0.3%.

Market reaction

The US Dollar Index edged slightly higher after this data and was last seen posting small gains at 102.65.