Interpretation of macro data on July 12: US PPI monthly rate/annual rate in June! Recommended reading: ★★★★
US PPI monthly rate/annual rate in June, the data is provided by the US Bureau of Labor. The producer social price index is a measure of the price changes of different commodities at different stages, and is one of the important data for measuring US economic inflation.
Data weight: ★★
Data content: Annual rate, previous value 2.4% (2.2% before correction), expected 2.3%, announced value 2.6%,
Monthly rate, previous value 0% (-0.2% before correction), expected 0.1%, announced value 0.2%
Data time: July 12, 2024 20:30 (UTC+8)
Data impact:
The data shows that the producer price index rose in June, and the increase was greater than expected. In the short term, producer prices have increased, costs have increased, and corporate profit pressure has increased. The rise in the producer price index will affect the price increase of terminal sales products, leading to inflation rebound pressure.
However, the increase in the producer price index in June should be due to weather reasons. The impact of hurricanes in the United States from June to July will increase the supply chain cost of production materials, that is, there may be an increase in transportation costs that leads to a short-term increase in PPI. Of course, if the data continues to rise in July and August, it will show that prices have risen. Excluding unstable climate factors,
At the same time, the biggest pressure on US inflation comes from wages, services, rents, etc., and the impact of the manufacturing industry is relatively small, especially most of the goods are imported. Of course, the producer price index does bring incentives for wage increases, and it is also a factor that leads to increased inflationary pressure.
This data may cause the inflation data in July to rebound or remain the same as in June.
