U.S. wholesale inflation increased at a slower pace than predicted by economists in July, as its month-to-month increase was a slight deceleration from June.
That’s according to the latest Producer Index issued by the U.S. Bureau of Labor Statistics, which shared Aug. 13 that the overall July seasonally-adjusted PPI for final demand increased 0.1% from June, down from the forecast of a 0.2% gain by economists polled by Reuters and the Wall Street Journal.
The PPI increased 0.2% month-to-month in June.
The PPI tracks average price shifts at the wholesale level before they reach consumers.
source: tradingeconomics.com
Most of the July increase was driven by a 0.6% increase in prices for final demand goods. Conversely, the index for final demand services fell 0.2% month-to-month.
Core PPI — which excludes volatile food and energy prices — was unchanged in July following a previous flat increase in June.
On a year-over-year basis, July’s overall PPI increased 2.2% — below market expectations of 2.3% — while core PPI increased 2.4%.
source: tradingeconomics.com
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