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- U.S. PPI unexpectedly increases in June
U.S. PPI unexpectedly increases in June
The Labor
Department reported on Friday the U.S. producer-price index (PPI) edged up 0.1
percent m-o-m in June, the same increase as in May.
For the 12
months through June, the PPI rose 1.7 percent, following a 1.8 percent gain in
the previous month. That was the smallest 12-month rise since a 1.7-percent
advance in January 2017.
Economists had
forecast the headline PPI would be flat m-o-m last month and would increase 1.6
percent over the past 12 months.
According to
the report, the June rise in final demand prices is attributable to a
0.4-percent m-o-m advance in the index for final demand services, while prices
for final demand goods declined 0.4 percent m-o-m.
Excluding
volatile prices for food and energy, the PPI rose 0.2 percent m-o-m and 2.3
percent over 12 months. Economists had forecast gains of 0.2 percent m-o-m and
2.2 percent y-o-y, respectively.
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