Keeping you up to date on the latest data releases.
The Producer Price Index (PPI) rose at an annualized rate of 9.6 percent in June, advancing for the second straight month. On a year-over-year basis, the PPI is up 2.5 percent. Producer prices for finished consumer foods rose 2.4 percent in June, down slightly from May’s 8.0 percent increase. Energy prices saw a sharp increase of 40.8 percent in June. Year-over-year energy prices are only up a slight 4.2 percent. Excluding volatile food and energy prices, “core” PPI rose 2.0 percent in June up from the 0.7 percent increase in May. At earlier stages of production, core intermediate good prices increased 0.6 percent and core crude prices 1.0 percent in June.