The producer price index for July is set for release at the bottom of the hour.
Economists estimate that the index for final demand rose 0.1% month-0n-month, and 0.1% excluding food and energy, according to Bloomberg. Year-over-year, the consensus is for a drop by 0.9%, and +0.5% excluding food and energy.
The index from the Bureau of Labour Statistics measures prices received by domestic producers for their goods and services.
In a preview of the data to clients, BNP Paribas economists wrote: “Prices of eggs and pharmaceutical preparations surged in June and likely retreated a bit in July. As a result, wholesale goods prices are projected to have risen more moderately in July. Services price gains also are projected to have slowed in July, though wider fuel retailing and transportation & warehousing margins likely continued to be a source of upward pressure.”
We’ll be back with the details once they cross.