U.S. wholesale inflation increased in June on both a monthly and year-over-year basis, and faster than expected. While May’s total was revised up from a slight regression to flat.
That’s according to the latest Producer Price Index issued by the U.S. Bureau of Labor Statistics, which shared July 12 that the overall June seasonally-adjusted PPI for final demand increased 0.2% from May, exceeding Wall Street Journal estimates of a 0.1% gain. The Bureau also revised the May PPI from a 0.2% monthly decline to 0.0%.
The PPI tracks average price shifts at the wholesale level before they reach consumers.
source: tradingeconomics.com
Most of the June increase was driven by a 0.6% increase in prices for final demand services. Conversely, the index for final demand goods fell 0.5% month-to-month.
Core PPI — which excludes volatile food and energy prices — were unchanged in June following a 0.2% increase in May.
On a year-over-year basis, June’s overall PPI increased 2.6% — it’s largest rise since March 2023 — while core PPI increased 3.1%.
source: tradingeconomics.com
See the Bureau’s full June PPI report here.
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