US annual PPI inflation softens to 2.3% in June vs. 2.5% expected

• Producer inflation in the US continued to soften in June.
• US Dollar Index trades marginally lower on the day near 98.50.

The Producer Price Index (PPI) for final demand in the US rose 2.3% on a yearly basis in June, the data published by the US Bureau of Labor Statistics showed on Wednesday. This reading followed the 2.6% increase recorded in May and came in below the market expectation of 2.5%.

The annual core PPI rose 2.6% in the same period, down from 3% in May. On a monthly basis, the PPI and the core PPI were both unchanged.

Market reaction

The US Dollar Index edged slightly lower with the immediate reaction and was last seen losing 0.1% on the day at 98.55.