US Producer Price Index beat expectations

In the US, the Producer Price Index (PPI) increased by 1 percent monthly in June, surpassing market expectations.

The US Department of Labor has released the Producer Price Index (PPI) data for June. Accordingly, the PPI increased by 1 percent in June compared to the previous month. In this period, the PPI, which exceeded market expectations, was expected to increase by 0.6 percent. PPI increased by 0.8 percent in May.

Producer prices rose 7.3 percent year-on-year last month, rising above market expectations. The index, which showed the highest increase since November 2010, was expected to increase by 6.8 percent annually in June. The PPI recorded an annual increase of 6.6 percent in May.

Core PPI, which does not include variable food and energy prices, increased by 0.5 percent monthly and 5.5 percent annually in June. The market expectation for the core PPI was 0.5 percent monthly and 5.1 percent annual increase.

By measuring the prices of inputs used in production, the PPI gives clues about final product prices and headline inflation. The US Federal Reserve (Fed) tracks all inflation indicators, including the PPI.


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Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.

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