The June reading of the producer price index is set for release at the bottom of the hour.
Economists estimate that the index rose 0.2% month-over-month, and 0.1% excluding volatile food and energy prices, according to Bloomberg.
Year-over-year, they estimate that the gauge of future inflation fell 0.9%, and rose 0.7% excluding food and energy costs.
Last month, producer prices rose 0.5% month-over-month — the highest in five years — and fell 1.1% year-over-year.
In a preview of the economy this week, BNP Paribas wrote: “Services prices likely rebounded in June. Transportation & warehousing and financial services prices were very weak in May, and we expect rebounds in both. Energy prices lead the former and point to the increase. Goods prices likely rose solidly in June, but by less than they did in May. We expect the strength to be broad-based.”
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