US: Annual core PPI edges higher to 0.3% in July vs. 0% expected

• Annual core PPI in US rose more than expected in July. 
• US Dollar Index stays deep in the negative territory below 93.30.

The Producer Price Index (PPI) in the US for final demand rose from -0.2% in June to 0.6% in July, the data published by the US Bureau of Labor Statistics showed on Tuesday. On a yearly basis, the PPI edged up to -0.4% and came in higher than the market expectation of -0.7%.

Further details of the publication revealed that the annual core PPI, which excludes volatile food and energy prices, climbed to 0.3% and surpassed analysts' estimate of 0%.

Market reaction

The US Dollar Index remains under bearish pressure after this data and was last seen losing 0.4% on the day at 93.24.