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• Producer Price Index

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Producer Price Index

Wholesale prices were unchanged in June, with the overall Producer Price Index flat against forecasts for a 0.2% rise, and core PPI also coming in at zero growth. Although final‐demand goods costs climbed 0.3%, led by an 0.8% jump in tariff‐sensitive communication equipment, service prices dipped 0.1%, offsetting goods gains. May’s PPI was revised up from a 0.1% to a 0.3% increase, marking the largest goods gain since February, while annual headline inflation eased to 2.3% and core to 2.6%, their lowest rates since fall 2024. Markets took the report in stride, with equity futures rising and Treasury yields softening, as the data suggest that recent tariff measures have yet to meaningfully stoke broad inflationary pressures.

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