US July PPI result beats expectations, hints at reacceleration risk

11 August 2023

 

Summary: US producer price index (PPI) up 0.3% in July, more than expected; annual rate increases to 0.8%; “core” PPI up 0.3%; NAB: highlights sensitivity to reacceleration risk; Treasury yields rise, especially at short end; 2024 rate-cut expectations soften; services prices up 0.5%, goods prices up 0.1%. Around the end of 2018, the annual inflation rate of the US producer price index (PPI) began a downtrend which continued through 2019....

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