US July PPI Shows Unexpected Growth of 0.1%
CryptoNewsTerminal Staff13 Aug, 2024
US July PPI Shows Unexpected Growth of 0.1%
The US Department of Labor has reported that the Producer Price Index (PPI) for July rose 0.1% month-over-month, falling short of market expectations of a 0.2% increase. This follows a May increase of 0.2%. The PPI measures the cost of goods sold by businesses in the US. These costs are often passed on to consumers in the form of higher prices, which can have a significant impact on inflation. With the PPI rising and the CPI expected to follow suit, this could be a sign of continued inflationary pressures in the coming months.
