Updated: 12-Jul-24 09:22 ET

June PPI

Updated: 12-Jul-24 09:22 ET

Highlights

• The Producer Price Index for final demand increased 0.2% month-over-month in June (Briefing.com consensus 0.1%) following a revised no change in May (from -0.2%).
• The index for final demand, less food and energy ("core PPI"), was up 0.4% month-over-month (Briefing.com consensus 0.1%) after a revised 0.3% increase (from 0.0%) in May.
• On a year-over-year basis, the index for final demand was up 2.6% versus 2.2% in May, and the index for final demand, less food and energy, was up 3.0%, versus 2.3% in May.

Key Factors

• The index for final demand goods decreased 0.5%, adding to its sharp 0.8% decline in May. The index for final demand energy decreased 2.6%.
• The index for final demand services rose 0.6% after increasing an upwardly revised 0.3% (from 0.0%) in May.
• The index for processed goods for intermediate demand decreased 0.2% after falling a revised 1.4% (from -1.6%) in May. Prices for processed energy goods fell 1.1%.
• The index for unprocessed goods for intermediate demand rose 1.4% while prices for unprocessed energy materials increased 4.7%.

Big Picture

• The key takeaway from the report is that the year-over-year rate for PPI and core PPI accelerated for the fifth month out of the last six with rising prices of services outweighing falling prices of goods in June.

Category	JUN	MAY	APR	MAR	FEB
Final Demand	0.2%	0.0%	0.5%	-0.1%	0.6%
Core (excluding ...)
Food and Energy	0.4%	0.3%	0.5%	0.0%	0.3%
Food, Energy, and Trade	0.0%	0.2%	0.5%	0.2%	0.4%
Final Demand Goods
Total	-0.5%	-0.8%	0.4%	-0.1%	1.1%
Energy	-2.6%	-4.8%	2.0%	-1.3%	3.9%
Finished Goods	-0.6%	-0.9%	0.4%	-0.1%	1.3%
Final Demand Services
Total	0.6%	0.3%	0.6%	0.0%	0.4%
Trade	1.9%	0.7%	0.6%	-0.8%	0.3%
Intermediate Demand
Processed	-0.2%	-1.4%	0.5%	-0.5%	1.4%
Unprocessed	1.4%	0.2%	2.5%	-1.5%	-0.3%
Services	0.2%	0.3%	0.3%	0.2%	0.0%