US June PPI Rose 0.2% MoM, Higher Than Expected

IconCryptoNewsTerminal Staff12 Jul, 2024

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US June PPI Rose 0.2% MoM, Higher Than Expected

The US Bureau of Labor Statistics reported that the Producer Price Index (PPI) increased by 0.2% in June compared to a decline of 0.2% in May. This is higher than the market expectation of a 0.1% increase. PPI is an indicator of future CPI inflation. The increase in PPI was led by a 1.2% rise in the index for final demand goods. The index for final demand services increased by a more modest 0.1%. The PPI report is the latest indication that inflationary pressures are still present in the US economy. The Federal Reserve is expected to continue raising interest rates in an effort to combat inflation.

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