Following yesterday’s ‘mixed’ CPI, all eyes are on the Producer Prices prints this morning for signs that the inflation pipeline is hotting up (or not)… and the print confirms – it’s not hotting up.
Headline and core PPI printed cooler than expected (unchanged MoM), well below the expected +0.2% MoM.
Headline PPI rose 2.3% YoY (down from a revised higher 2.7% in May and below the 2.5% expected) – that is the lowest YoY print since Sept 2024…
Source: Bloomberg
Core PPI also printed cooler than expected, down to just 2.6% YoY. Core PPI YoY was last lower than this is March 2024…
Source: Bloomberg
Margin pressure lifted this month…
Source: Bloomberg
So much for the terrifying threat of tariff-flation… or will we just have to wait for next month to see the full horror.. or the next month?
Loading…
