Economic Event | Period | Economic Survey | Actual Reported | Original Prior | Revised Prior |
Producer Price Index MoM | JUN | 0.5% | 0.8% | 0.5% | |
PPI Ex Food & Energy MoM | JUN | 0.1% | 0.2% | 0.1% | |
Producer Price Index YoY | JUN | 2.1% | 2.5% | 1.7% | |
PPI Ex Food & Energy YoY | JUN | 1.6% | 1.7% | 1.7% | |
Drop it like it’s hot.
PPI was higher than economist’s expectations across the board. Month over Month, Year over Year, with Food & Energy or without Food & Energy.
PPI, which measures wholesale prices in the U.S. rose more than projected in June, reflecting higher costs for energy and automobiles. The 0.8 percent gain in the producer price index was the biggest since September and followed a 0.5 percent rise the prior month, a Labor Department report showed today in Washington. The median estimate in a Bloomberg survey of 73 economists called for a 0.5 percent gain. The so-called core measure, which excludes volatile food and fuel, increased 0.2
percent, also more than forecast.
The data also showed limited cost pressures at the earlier stages of production, indicating demand for raw materials is being restrained by slower growth in China and weakness in Europe. That helps explain why Federal Reserve policy makers project inflation is likely to be at or below the central bank’s goal.
John Broussard
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury
225-342-0013
jbroussard@treasury.state.la.us
