Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

TOP SEARCHES

Stocks popular

Crypto

Currencies

CFD

Support

US PPI Slightly Higher in June

image
icon 12/07/24
icon 109

US PPI Slightly Higher in June

In June, U.S. producer prices rose slightly more than anticipated amid an increase in the cost of services, although that didn’t change expectations that the Fed may start cutting interest rates in Sept.

Details of the elements in the producer price report that are included in the calculation of the key inflation gauge that the U.S. central bank tracks were generally favorable. This, together with the softer readings in the CPI report led to economists expecting that personal consumption expenditures inflation in June rose slightly.

On Friday, the Labor Department’s Bureau of Labor Statistics said that in June, the producer price index for final demand was 0.2% higher after being unchanged in May. Economists had expected the PPI would edge up 0.1%.

The PPI rose 2.6% in the 12 months through June. That was the biggest year-on-year increase since March 2023 and came after May’s 2.4% advance.

The increase in the PPI last month was mainly due to a 0.6% rise in the price of services. In May, services rose 0.3%.

They were bolstered by a 1.9% rise in margins for trade services, which records changes in margins received by retailers and wholesalers, mostly reflecting a 3.7% rise in vehicle and machinery wholesaling. The cost of warehousing and transportation services dropped 0.4%.

Recomended for you

image

Crude Prices Drop After IEA Monthly Report

On Wednesday, crude prices dropped and gave back earlier gains after the IEA reduced its forecast for this year’s demand...

May 15, 2024
icon 271
May 15, 2024
icon 271
prev next
This site is registered on wpml.org as a development site.