US: Annual core PPI drops to 1.1% vs. 1.3% expected
- Annual core PPI falls to 1.1% in December in US.
- Greenback struggles to find demand, US Dollar Index stays below 97.30.
The Producer Price Index (PPI) in December rose 0.1% on a monthly basis after staying unchanged in November, the data published by the US Bureau of Labor Statistics showed on Wednesday. This reading came in below the market expectation of 0.2%. On a yearly basis, the PPI rose to 1.3% from 1.1% to match analysts' estimates.
On the other hand, the annual core PPI dropped to 1.1% from 1.3%.
The US Dollar Index edged lower on these figures and was last down 0.1% on the day at 97.29.