June Producer Inflation Exceeds Forecasts, Restrains Investor Euphoria Following Consumer Price Relief

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The Producer Price Index released Friday revealed a higher-than-expected increase in June, surprising investors who had grown confident about interest rate cuts following the sharper-than-anticipated drop in the monthly Consumer Price Index inflation gauge released a day earlier.

June PPI Report: Key Highlights In June, the headline PPI for final demand rose by 0.2% month-over-month, rebounding sharply from the upwardly revised flat reading in May and surpassing economists’ expectations – as tracked by TradingEconomics – of a 0.1% increase.

On an annual basis compared to June 2023, the overall producer basket rose by 2.6%, reaching its highest point since March 2023.

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Author / Journalist: Piero Cingari

Category: Technology

Markets: United States

Topics: Benzinga Econ #s QQQ Producer prices IWM Macro Economic Events ETFs Producer inflation Federal Reserve Markets PPI Tech Broad U.S. Equity ETFs Economics US73935A1043 Interest Rates Top Stories Stories That Matter US4642876555 Inflation

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-12 @ 12:45:24 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 223 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 21585183

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