US: Annual PPI rises to 9.7% in December vs. 9.8% expected
- Headline PPI rose at a pace of 9.7% in December, slightly below expected.
- Core PPI was up 8.3% YoY, more than expected.
The headline US Producer Price Index (PPI) rose at an annual pace of 9.7% in December, according to the latest report from the US Bureau of Labor Statistics on Thursday. That marked a new series record high (PPI was first reported back in 2011) but was slightly below the median economist forecast for 9.8% and a slight acceleration versus November's 9.6% reading. MoM, PPI came in at 0.2% in December, below expectations for a 0.4% MoM gain.
Contrary to the headline reading, Core PPI came in at 8.3% YoY which was above expectations for an 8.0% reading and marked a larger than expected acceleration from November's 7.7% YoY pace of price growth. MoM, Core PPI was up 0.5%, in line with expectations, marking a deceleration in the pace of MoM price growth from November 0.9% reading, which had been revised up from 0.7%.
Market Reaction
The DXY did not see any notable reaction to the latest data.
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