Keeping you up to date on the latest data releases.
- Producer Price Index
The Producer Price Index (PPI) for finished goods rose in line with expectations at 2.4 percent (annualized) in July, owed to an 8.7 percent increase in consumer foods. July’s advance in PPI ends a three consecutive month decline in headline producer prices, causing year-over-year growth to rise from 2.7 percent to 4.1 percent. The core PPI, which excludes the fickle gas and food prices, advanced 3.7 percent in July—its largest increase in nearly eight months. Year-over-year growth in the core index grew from 1.1 percent to 1.5 percent up from the trend we have seen since last November of year-over-year growth around 1.0 percent. Further back in the production line, pricing pressures continued to be on the downside as core intermediate goods prices dropped another 4.5 percent in July and core crude fell 17 percent.