Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), rose to 6% on a yearly basis in April from 4.3% in March, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading surpassed the market expectation of 4.9% by a wide margin and it was the highest since December 2022.
On a monthly basis, the PPI rose 1.4%, following the 0.7% increase recorded in March and coming in well above analysts’ estimate of 0.5%.
Other details of the report showed that the PPI ex Food & Energy was up 5.2% YoY in April, compared to the market forecast of 4.3%.
Market reaction
The US Dollar (USD) Index continues to push higher in the early American session and was last seen rising 0.26% on the day at 98.55.
Source: https://www.fxstreet.com/news/us-annual-producer-inflation-climbs-to-6-in-april-vs-49-expected-202605131239
