Breaking: US annual PPI inflation declines to 2.2% in May
13.06.2024, 12:33

Breaking: US annual PPI inflation declines to 2.2% in May

The Producer Price Index (PPI) for final demand in the US rose 2.2% on a yearly basis in May, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading followed the 2.3% increase recorded in April (revised from 2.2%) and came in below the market expectation of 2.5%.

The annual core PPI rose 2.3% in the same period, coming in below April's increase and the market expectation of 2.4%. On a monthly basis, the PPI declined 0.2%, while the core PPI remained unchanged.

Market reaction to PPI inflation data

The US Dollar came under modest selling pressure with the immediate reaction and the US Dollar Index retreated to the 104.70 area from the daily high it set near 105.00.

US Dollar PRICE This week

The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the weakest against the New Zealand Dollar.

  USD EUR GBP JPY CAD AUD NZD CHF
USD   -0.01% -0.56% -0.05% -0.27% -1.21% -1.30% -0.32%
EUR 0.00%   -0.21% 0.24% -0.01% -0.93% -1.03% -0.05%
GBP 0.56% 0.21%   0.58% 0.20% -0.72% -0.84% 0.15%
JPY 0.05% -0.24% -0.58%   -0.25% -1.28% -1.40% -0.26%
CAD 0.27% 0.00% -0.20% 0.25%   -0.91% -1.04% -0.05%
AUD 1.21% 0.93% 0.72% 1.28% 0.91%   -0.11% 0.90%
NZD 1.30% 1.03% 0.84% 1.40% 1.04% 0.11%   1.00%
CHF 0.32% 0.05% -0.15% 0.26% 0.05% -0.90% -1.00%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Economic Indicator

Producer Price Index (YoY)

The Producer Price Index released by the Bureau of Labor statistics, Department of Labor measures the average changes in prices in primary markets of the US by producers of commodities in all states of processing. Changes in the PPI are widely followed as an indicator of commodity inflation. Generally speaking, a high reading is seen as positive (or bullish) for the USD, whereas a low reading is seen as negative (or bearish).

Read more.

Next release: Fri Jul 12, 2024 12:30

Frequency: Monthly

Consensus: -

Previous: -

Source: US Bureau of Labor Statistics

 

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