The Producer Price Index soared by 9.2% year over year in June. The index rose 1.8% month-to-month, coming in well above the consensus estimate of 1.3% and up from 1.4% the previous month. Core PPI, which strips out energy and food prices, rose only 0.2%, below the consensus estimate of 0.3% and level with last month’s reading, which was also 0.2%. So fuel and food costs haven’t worked through the system…yet.
Graph courtesy Briefing.com