US: Annual PPI rises to 6.2% in April vs. 5.9% expected

• Annual PPI in US rose sharply in April.
• US Dollar Index posts small daily losses after the data.

The Producer Price Index (PPI) in the US for final demand rose to 6.2% on a yearly basis in April from 4.2% in March, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading came in higher than the market expectation of 5.9%.

Further details of the publication revealed that the annual Core PPI increased to 4.1% from 3.1%, compared to analysts' estimate of 3.7%.

Market reaction

The US Dollar Index edged slightly lower with the initial market reaction and was last seen losing 0.08% on the day at 90.70.