June US PPI
- Prior was -0.1% y/y
- Prices up 0.5% m/m vs 0.3% exp
Ex food and energy
- +1.3% y/y vs +1.0% exp
- +0.4% m/m vs +0.1% exp
The PPI estimates missed badly but, ultimately, it's proven tough for producers to pass costs onto consumers with wages stagnant.
Still, it might get some attention at the Fed. The month-over-month rise in producer prices was the highest since 2012.
