The Producer Price Index (PPI) was unchanged in July, coming in below the 0.2% monthly rebound economists expected after June’s 0.3% decline, the Bureau of Labor Statistics reported Thursday.

The annual producer inflation rate eased to 4.7%, down from 5.5%, and below the 4.9% consensus.

Core PPI, which strips out food and energy, rose 0.2% on the month against the 0.3% expected, with the annual core rate easing from 4.7% to 4.2%, in line with expectations.

The print lands a day after the July Consumer Price Index (CPI) rose just 0.1% month over month, pulling annual inflation down to 3.4% from 3.5%, with core CPI up 0.2% and its annual rate easing to 2.5%, an in-line report that showed the energy-driven inflation burst continuing to fade.

This is a developing story…

Image created using artificial intelligence via Midjourney.