PPI Jumps by 1.0% in June to Add Further Fuel on US Inflation Concerns

Source: Bureau of Labor Statistics

US Producer Price Index ticked higher by 1.0% in June, or up 7.3% in the past 12 months, the largest yearly increase in about 10 years. SPY is up +0.072%, DXY is down -0.37%

The June increase in PPI was higher than May and April’s 0.8% and 0.6% jump, respectively adding further concerns on consumer prices.

June’s PPI advance was mainly fueled by a 0.8% jump in prices for final demand services.

Final demand for goods index surged by 1.2% in June.

Less food, energy, and trade services, prices rose by 0.5% in June, a slowly lower jump compared to 0.7% increase in May.

Less food, energy, and trade services, PPI moved up by 5.5% in the last 12 months, the largest increase since August 2014.