IMPORTANT INFORMATION TODAY!!!
🔥#PPI July fell sharply compared to the same period last year, the shadow of recession still looms
🔶July PPI (year/year) was announced to fall sharply to +2.2%, lower than the forecast of +2.3% and the previous month's figure of +2.7%
🔶Core PPI (excluding energy and food) fell sharply from +2.7% to +2.4%
🔶PPI m/m also slowed down, the increase intensity was only +0.1%, lower than the forecast of +0.2% and the previous month's figure of +0.3%. Service prices have decreased.
🔶In the July PPI configuration, the maximum increase intensity came from energy prices +1.9% (mainly due to increased oil prices).
🔶The market will not be happy with this report, US businesses continue to bear the burden of falling selling prices but rising input prices. It is impossible to increase selling prices when purchasing power is dangerously weak.
