US: Annual PPI rises to 6.6% in May vs. 6.3% expected

• Annual PPI in US rose more than expected in May.
• US Dollar Index stays in the positive territory above 90.50.

The Producer Price Index (PPI) in the US for final demand rose to 6.6% on a yearly basis in May from 6.2% in April, the data published by the US Bureau of Labor Statistics showed on Tuesday. This reading came in higher than the market expectation of 6.3%. On a monthly basis, the PPI was 0.8%.

Further details of the publication revealed that the Core PPI edged higher to 4.8% from 4.1%, matching analysts' estimates. 

Market reaction

The greenback preserves its strength after this data. As of writing, the US Dollar Index was up 0.15% on a daily basis at 90.65.