Producer price index up 3.6% in July

Kevin DrumAugust 11, 2023 – 9:02 amAugust 11, 2023 – 9:05 am1 Comment

The producer price index is our glimpse into the future: Changes in the PPI are usually reflected in the consumer price index a few months later. July's PPI wasn't good news:

The overall PPI was up 3.6% in July compared to -0.5% in June. The component indexes were also up. We can hope for better news next month.

1 thought on “Producer price index up 3.6% in July”

skeptonomist August 11, 2023 – 11:14 am at

The year/year PPI rate turned up, but it's still negative:

https://fred.stlouisfed.org/graph/fredgraph.png?g=17Mbn

That is by the usual measure producer prices are still going down. You can't expect the rate to be negative forever.

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