US June PPI +0.3% m/m vs +0.2% expected

PPI data

• Prior +0.5% m/m
• Ex food and energy +0.3% vs +0.2% exp
• Ex food, energy and trade +0.3% vs +0.2% exp
• No revisions to prior

Year-over-year numbers:

• Final demand +3.4% vs +3.1% exp -- highest since Nov 2011
• Ex food and energy +2.8% vs +2.6% exp
• Ex food, energy and trade +2.7% vs +2.6% prior (no exp)

Pipeline inflation was running hotter in June as energy prices continued to push higher.