US annual PPI inflation rises to 3% in November vs. 2.6% expected
FXStreetDec 12, 2024 1:40 PM
- Producer inflation in the US rose at a stronger pace than expected in November.
- US Dollar Index holds above 106.50 following the PPI data.
The Producer Price Index (PPI) for final demand in the US rose 3% on a yearly basis in November, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading followed the 2.6% increase recorded in October and came in above the market expectation of 2.6%.
The annual core PPI rose 3.4% in the same period, surpassing analysts' estimate of 3.2%. On a monthly basis, the PPI and the core PPI rose 0.4% and 0.2%, respectively.
Market reaction
The US Dollar Index clings to modest daily gains above 106.50 following the November producer inflation data.
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