US: Annual core PPI edges higher to 0.6% in August vs. 0.3% expected

• Annual core PPI in August came in higher than expected.
• US Dollar Index stays deep in the negative territory below 93.00.

The Producer Price Index (PPI) in the US for final demand fell from 0.6% in July to 0.3% on a monthly basis in August, the data published by the US Bureau of Labor Statistics showed on Thursday. On a yearly basis, the PPI edged higher to -0.2% and came in higher than the market expectation of -0.3%.

Further details of the publication revealed that the core PPI, which excludes volatile food and energy prices, climbed from 0.3% to 0.6% on a yearly basis and surpassed analysts' estimate of 0.3%.

Market reaction

These figures don't seem to be having a significant impact on the greenback's performance against its rivals. As of writing, the US Dollar Index was down 0.45% on the day at 92.83.