June's producer price index revealed annual producer inflation fell to 2.3% year-on-year in June to the lowest level seen since September 2024, according to the Bureau of Labor Statistics, compared to an upwardly revised 2.7% increase in May and below forecasts of a 2.5% increase.
Source: Sharecast
On a monthly basis, however, producer prices were flat against May's upwardly revised 0.3% increase, ahead of the 0.2% increase expected by economists. Services prices were down 0.1%, while goods prices rose 0.3% month-on-month.
So-called core PPI was unchanged in June, compared to forecasts of a 0.2% rise, while the annual core rate fell to 2.6% from 3.2%, below expectations of a 2.7 increase%
June's PPI reading follows Tuesday's consumer price index, which revealed that inflation seemingly moved further away from the central bank's 2% target in June as the impact of Donald Trump's so-called "reciprocal" tariffs began to be felt throughout the US economy.
Reporting by Iain Gilbert at Sharecast.com
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