U.S. June Producer Price Index Falls 0.3% Month-on-Month, First Decline in 10 Months

The U.S. Department of Labor's Bureau of Labor Statistics announced on July 15 (local time) that the Producer Price Index (PPI) for June fell by 0.3% compared to the previous month.

This marks the first time the PPI has declined month-on-month in 10 months, following a 0.2% drop in August of last year.

The consensus forecast from experts surveyed by Dow Jones had anticipated a flat reading.

The year-on-year increase was recorded at 5.5%.

Excluding the volatile categories of energy, food, and trade services, the core PPI rose by 0.1% month-on-month and 5.1% year-on-year.

The producer price index, often referred to as wholesale inflation, is considered a leading indicator for consumer prices, as it tends to be reflected in the prices of final consumer goods with a certain time lag.
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