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- U.S. PPI unexpectedly declines in June
U.S. PPI unexpectedly declines in June
The Labor
Department reported on Friday the U.S. producer-price index (PPI) fell 0.2
percent m-o-m in June, following an unrevised 0.4 percent m-o-m advance in May.
For the 12
months through June, the PPI fell 0.8 percent, the same pace as in the previous
month.
Economists had
forecast the headline PPI would increase 0.4 percent m-o-m but drop 0.2 percent
over the past 12 months.
According to
the report, the June drop in the final demand index was attributable is
attributable to a 0.3-percent m-o-m decline in prices for final demand services
(the largest decrease since February). Meanwhile, the index for final demand
goods rose 0.2 percent m-o-m.
Excluding
volatile prices for food and energy, the PPI fell 0.3 percent m-o-m but edged up
0.1 percent over 12 months. Economists had forecast gains of 0.1 percent m-o-m
and 0.4 percent y-o-y.
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