U.S. Producer Prices Fall 0.3% in June from Previous Month

First Monthly Decline in 10 Months

The U.S. Department of Labor's Bureau of Labor Statistics announced on July 15 (local time) that the Producer Price Index (PPI) in the United States decreased by 0.3% in June compared to the previous month.

This is the first monthly decline in the Producer Price Index since August of last year (-0.2%), marking a 10-month interval. The expert consensus compiled by Dow Jones had projected no change.

A worker is stocking products at a supermarket located in New York. New York (USA) - Photo by Yoonju Hwang

On a year-on-year basis, the PPI rose by 5.5%.

Excluding the volatile categories of energy, food, and trade services, the core Producer Price Index increased by 0.1% compared to the previous month and 5.1% compared to the same period last year.

Also referred to as wholesale prices, the Producer Price Index is considered a leading indicator of the Consumer Price Index, as it is reflected in final consumer goods prices after a certain time lag.

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