US PPI up just 0.1% in June, cements disinflation narrative

13 July 2023

 

Summary: US producer price index (PPI) up 0.1% in June, less than expected; annual rate slows to 0.2%; “core” PPI up 0.1%; ANZ: helps cement disinflation narrative; Treasury yields fall noticeably; 2024 rate-cut expectations harden; goods prices steady, services prices up 0.2%. Around the end of 2018, the annual inflation rate of the US producer price index (PPI) began a downtrend which continued through 2019. Months in which producer prices...

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