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- US: Annual PPI jumps to 11.2% in March vs. 10.6% expected
US: Annual PPI jumps to 11.2% in March vs. 10.6% expected
- The YoY rate of PPI rose to 11.2% in March, well above the expected rise to 10.6% from 10.0% in February.
- FX and bond markets didn't see a lasting reaction.
The annual rate of US Producer Price Inflation (PPI) rose to 11.2% in March, above expectations for a rise to 10.6% from 10.0% in February, data released by the Bureau of Labour Statistics and Department of Labour showed on Wednesday. The jump was powered by a 1.4% MoM rise in prices, according to the Producer Price Index, which was above the expected 1.1% rise.
Core PPI rose at an annual pace of 9.2%, well above the expected 8.4% reading and up from February's 8.4%. The MoM rate of Core PPI was 1.0%, above the expected 0.5% reading.
Market Reaction
The DXY saw a very small pop, but has not been able to rally back to session highs above the 100.50 mark. The US 10-year yield chopped around the 2.75% mark and did not seem to have a lasting reaction.
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