After the recent cooler read on consumer prices, new numbers show there is still uncertainty in the economy, as the Producer Price Index came in hotter than expected.
Producer prices rose 0.2 percent in June, and the markets were expecting a 0.1 percent increase. Year-over-year, it came in at 2.6 percent higher, while the expectation was 2.3 percent. The largest increase was in final demand services.
The PPI measures wholesale prices before they are passed along to the consumer, so this could indicate that inflation may inch higher next month.
Related Stories
“For producers, the retaliation is the big threat...
Public support for producer payments is strongest for natural disasters, according to a recent study
“We find lots of public support when there is a natural disaster, but maybe a little bit less when people think prices are too low.”
