8/11, 2:31 PM (Source: TeleTrader)
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US PPI drops by 0.5% in July

The Producer Price Index (PPI) in the United States dropped by 0.5% in July on a seasonally adjusted monthly basis, the US Bureau of Labor Statistics said on Thursday.

On an unadjusted basis, the index rose 9.8% for the 12 months ended in July. The overall monthly drop was mostly due to a 1.8% decrease in prices of final demand goods. However, prices of final demand services rose 0.1% in July.

The index for final demand excluding foods, energy, and trade services rose by 0.2% month on month and by 5.8% compared to July 2021.

Baha Breaking News (BBN) / JN