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US producer prices rise more than forecast

US producer prices rise more than forecast

Producer prices in the United States rose more than forecasts in July, data released on Friday showed, while the dollar showed muted effect.   

The producer price index (PPI) saw a 0.2 percent increase last month, following a similar soar in June. The year-on-year reading steadied at 1.7 percent.

Core PPI showed a 0.1 percent drop, compared to both prior and excepted readings of 0.3 percent and 0.2 percent. According, the annual reading fell from 2.3 percent to 2.1 percent.

The dollar index traded lower at 96.34 from the session’s open at 97.39, set for the first weekly decline in four, as of 12:50 GMT.

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